It is the Badgers, okay.
Mr. Speaker, I am a big fan of sports and I love that we celebrate that collectively, as we did last week when our Olympic and Paralympic teams were here. It was a nice moment of non-partisan celebration here in the House of Commons for everyone.
On to the issue of the day, which is the emissions cap that our government has proposed very proudly. We are one of the first oil and gas producing nations to propose an emissions cap. Before I start, I would like to acknowledge one thing my colleague said. He said that I would say it is not a production cap. He is indeed correct; it is not a cap on oil and gas production. It actually accommodates a more than 16% increase in production.
Many of the products in the oil patch, certainly not all of them, but some of them, have the highest emissions intensity in the world of certain types of projects. Those mostly include projects that are not in the province where my colleague resides but mostly in the oil sands in Alberta, where there is bitumen production. The emissions intensity in the oil sands has actually gone up. Albera has acknowledged it needs to have an emissions cap. We can have a conversation as to where that should be, but no sector in Canada should be entitled to unlimited pollution. I do not believe any sector should be able to operate in the absence of any regulations around how much it pollutes. I am also, like my colleague, concerned about the future of our planet and our country. I am also concerned about our economy and that climate change is having a really negative impact on our economy.
Food reports have come out from various organizations and agencies recently, and all of those have pointed to climate change as the leading cause of food inflation. The Conservatives have recently kind of leaned in the direction of misinformation when they have talked about the difference in food inflation rates between Canada and the United States. I would like to call them out on that because they continually provide false information and false narratives around the difference in food inflation between Canada and the United States. Canada and the United States have very similar rates of food inflation: the United States in the absence of a federal price on pollution, and Canada with a federal price on pollution. All of these things are very measurable. It is not a new thing.
We have been pricing carbon in Canada in various ways for over a decade and we know that with the so-called axe the tax campaign, if we were to reduce or eliminate carbon pricing entirely in Canada, it might save Canadians about 50ยข on $100 worth of groceries. It would also cost them the Canada carbon rebate.
Back to the issue of the day, which is the cap on emissions in the oil and gas sector. We have to use absolutely all of the tools in our tool box to combat pollution. On November 4, our government introduced the proposed regulations to cap greenhouse gas pollution from the oil and gas sector, which would drive innovation and create jobs in the oil and gas sector. We have been very clear that the pollution cap would work to curb pollution and not production. It would drive investment; create good, new jobs; grow a strong and greener economy; and encourage many of those energy products that we need for both our economy and our day-to-day lives, to heat our homes, drive our cars and deliver our goods. We also need to ensure that those emissions go down. We also have to keep reminding Conservatives that the cap on emissions will allow, and actually encourage, production to expand by 16% by 2030.
I have more to say, but I know there will be an opportunity for a rebuttal. Once again, these regulations would set reduction levels at 35% below 2019 levels by 2030 and that is a good thing for future generations.