Mr. Speaker, my colleague will be aware that, earlier this week, Dr. Jim Stanford was one of our witnesses. He provided our committee with a brief that derives its information from publicly available data. On page five of that brief he noted that, from the beginning of 2021 to the spring of 2022, “the world price of oil tripled” from $40 a barrel to $120 a barrel and that, in that period, “the jump in the price of oil [which was] driven by a combination of geopolitics and speculation...increased fossil fuel prices by 30 times as much as the $10 carbon price increase in the same period.” We also know from previous briefs that, in the last three years, oil and gas companies have seen their net profits go up by over 1,000%.
Why, when Conservatives are talking about the carbon tax, do they conveniently ignore these facts and ignore their very real role in driving up food price inflation? One cannot argue with the facts. This is clear data that is available for all members, and oil profits have had a huge impact on world food prices, far more than the carbon tax has. Will my colleague acknowledge that?