Mr. Speaker, first, I want to say that I am sharing my time with the hon. member for Edmonton Strathcona. I will ask my questions, through you, Mr. Speaker, to the Minister of Finance.
The International Energy Agency forecasts global oil demand will peak imminently and drop 25% by 2030. Before demand drops that far, OPEC intends to monetize its five-million-barrel-a-day spare capacity, threatening prices under $60 a barrel for Brent crude. Canadian Energy Research Institute said this would make most oil sands projects' cash flow negative.
For the 2025 budget, how will the minister mitigate Alberta bitumen revenue shortfalls, federal government revenue shortfalls, stranded long-lasting fossil pipelines and other assets, and price-collapse risks?