Mr. Speaker, with COP27 in full swing, the big winners have been revealed.
Unfortunately, I am talking about the winners of the bidding process for oil exploration licences in Newfoundland's offshore. The winners are ExxonMobil, BP, Equinor and the Qatar state-owned company, QPI. Incentivized by the federal government's decision to eliminate environmental assessments, they have promised to invest no less than $238 million to find oil. If they are willing to invest $238 million, needless to say, they expect to find oil.
How many more Bay du Nord projects does Ottawa plan to authorize?