Madam Speaker, I certainly will not need all my time, as I will be sharing it with the member for Winnipeg North. He will probably have the bulk of the 20 minutes. Since the discussion on the topic began, I have thought it was necessary for a Newfoundlander to stand up and say a few words on it. I know the minister spoke earlier, and I compliment him on his speech.
It is a pleasure to rise and speak to Bill C-49, which is an act to amend the Atlantic accord acts with the provinces of Nova Scotia and Newfoundland and Labrador. This is a crucial piece of legislation that matters in the global race toward our net-zero future, and Canada is in the driver's seat to be a leader on just that.
The legislation is required to do just that. The Atlantic accords first signed between the Government of Newfoundland and Labrador in 1985 and subsequently signed between Nova Scotia and the federal government in 2005 are symbolic of the importance of the work that was done to fight for regional equality in Atlantic Canada. This was done to ensure equity in how the resources of oil and gas at that time were to be distributed in the federation and for the benefit of our provinces. While the oil and gas sector still plays an important role in Newfoundland, today, by amending the accords, we would be setting the path to how best to govern, manage and, ultimately, benefit from the resource of offshore wind.
There are many ways to look at the benefit offshore wind represents to Canada. First and foremost, this opportunity is crucial in our fight against climate change. The science is clear: We need to reduce greenhouse gas emissions, and projects on the Atlantic coast can do just that by harnessing the wind for our collective benefit. The power can help Canada not only to decarbonize its current electricity capacity but also to ensure that it has excess power to supply to other provinces as well.
Beyond the domestic focus, this opportunity represents an enormous export potential for green hydrogen to be transported as ammonia for industrial uses around the world, helping to decarbonize the world. I know that the province of Newfoundland and Labrador just issued permits to four different companies that are interested in creating wind energy in Newfoundland and Labrador and in producing hydrogen to be shipped to other European countries. They are not approved yet, but they are authorized to go to the next level to get that done. As the labour minister mentioned earlier, this is something that will help workers in Newfoundland and Labrador create a new field of expertise. Thus, the workers who built our oil industry will also help build our wind energy.
In his speech, the minister also mentioned the Port of Argentia becoming a port to house the so-called monopiles that will be used in offshore wind energy projects. I had the opportunity to be in Argentia and look at some of those, as they were sitting on the land, that came in the first shipment. They will be used for projects off the east coast of the United States, and Argentia will play a major role in that.
They are able to do that with the help of the federal government. It was only a couple of months ago that the then minister of transport announced major project funding for the Port of Argentia to build and expand its wharfage. It was a $38-million investment from the federal government for a $100-million project that the port is taking on. It has reinvented itself. At one time, Argentia was a U.S. naval base and served the area well, and of course it was a great economic driver when it was there at the time. However, today, it has this to depend on as another major economic driver for that full area.
It boggles my mind to hear people say that nobody wants this to happen. The premiers of both Nova Scotia and Newfoundland and Labrador are asking for the renewal of the accords to be done and signed off on by the federal government and the provinces. They can then go out and attract new industry to come to the provinces and create good jobs and good family incomes in the meantime.
Somebody spoke about working with proponents we know who already have a record in this field. That is exactly what it is. These people who are coming to set up the wind farms, whether onshore or offshore, have the experience. They have done it before in many regions around the world and they are certainly looking forward to doing it in Newfoundland and Nova Scotia. Hopefully, it does get approval to go ahead in both areas.
I know the member mentioned the carbon tax and nobody standing up against it. I would remind people in this House that it was I, as an MP from Newfoundland and Labrador, who stood and voted with a Conservative motion to eliminate the carbon tax on home heating fuel. I still stand by that and I support that vote. I had my own reasons for doing it. I wanted to let the people I represent know that I am prepared to stand up and speak for them when necessary in this House.
I will close off here and answer any questions that anybody has on this particular piece of legislation.