44th Parl. 1st Sess.
May 17, 2022 10:00AM
- May/17/22 10:42:41 a.m.
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Madam Speaker, I am very honoured to rise today as the member for Timmins—James Bay on this very important issue. We are dealing with two major crises right now. One is the question of affordability and the massive prices that people are paying at the pumps, at a time when we see big oil racking up record profits and gouging consumers at the pumps.
The fact is that Imperial Oil announced its best opening quarter in 30 years, with $1.17 billion in profits. Canadian Natural Resources doubled its year-over-year first-quarter results with a profit of $3.1 billion, and Suncor brought home $2.95 billion in quarter one, quadrupling last year's results of $800 million.
Where is all that money coming from? It is coming from Mr. and Mrs. Joe Average who go to work every day and are getting gouged at the pumps. We will never hear the Conservatives talking about price gouging. They have all kinds of theories about how unfair it is for big oil to make record profits while people cannot afford to go to work. It is the same as how the Conservatives are trying to talk about high grocery prices as some kind of Bank of Canada conspiracy on inflation, when, in fact, we learned that Loblaws made record profits this year. They are making money gouging Canadians.
At the same time, of course, big oil continues to get free money from the Canadian taxpayer. It refused to pay $256 million in taxes to municipalities in rural Alberta. It left an abandoned oil well cleanup of over a billion dollars: abandoned wells are leaking planet killers such as methane. It expects the public to pay for that. It is calling on the government to change the basic environmental regulations that protect the Athabasca River system, a fragile ecosystem, so that it can dump the toxic waters from tailings ponds. It never talks about the huge damage that it does from every barrel taken out of the oil sands or the amount of water that is contaminated and held in these tailings ponds, which are larger than the city of Vancouver, but it expects the public to assume those costs.
Of course, we see the $570 million for the methane cleanup. Methane is a planet killer. We all know that. This is something that big oil, with its record profits, could easily have handled, but no: It asked the public to pay to stop the leaking methane. What we saw from the Environment Commissioner's report was that this was used as a subsidy to increase production.
The issue of affordability is one factor, but there is a much bigger factor facing us. We are the first generation in history to actually be in a position to decide whether our children have a future or whether we are going to continue to have cheap gas.
We talk about a climate emergency. It does not even come close to talking about the situation we are in. The UN has released its latest statement calling “a code red for humanity”. It claims “a damning indictment of failed global leadership” on the climate crisis. UN Secretary-General Guterres says that what we are looking at is “an atlas of human suffering and a damning indictment of failed climate leadership.”
He says:
Nearly half of humanity is living in the danger zone—now. Many ecosystems are at the point of no return—now. Unchecked carbon pollution is forcing the world’s most vulnerable on a frog march to destruction—now.
There is nothing theoretical about this. The Economist, which is hardly a left-wing journal, says that we have to act quickly before time runs out. It gives us until 2025 to deal with peak oil. The International Energy Agency, another industry voice, says that given the emergency of the climate crisis, there cannot be any more new fossil fuel projects, yet what we see in the House, and what the Canadian people see, is that climate change denial is the fundamental cornerstone of Canadian economic policy and it is the fundamental cornerstone of the government.
We know that the Conservatives will ridicule any efforts on climate change. We hear them laughing when it is talked about. The issue is with the Liberals, though. The Liberals have made promises because Canadians want someone to do the right thing on the climate crisis. We are not seeing that.
We want to talk about a number of things that we need to break apart on the Liberals' arguments because they are perpetrating a scam on the Canadian people. The idea of net zero by 2050 is an absolute scam.
They went to COP26, where the Prime Minister and the environment minister claimed they would cap emissions. That certainly shocked everyone in Canada because they had not talked to anybody about this emissions cap. We are never going to see that emissions cap. It is not going to happen. Why is it not going to happen? The emissions cap is not going to happen because the Liberals are telling Canadians that they can increase oil production while getting to net zero.
It is a ridiculous proposition, and it is all based on the idea that they were somehow going to decarbonize the oil, but the problem with that is that it is not possible because what is coming out of the oil sands has one of the the highest carbon emissions prints on the planet. Year in and year out, despite all the promises to lower those emissions, it has not happened. A headline in The Wall Street Journal refers to it as among the “Dirtiest Oil” on the planet. Those are the facts.
We can look at the environment minister's latest big green plan, which he said was planned out based on the Canadian Energy Regulator's information. The Canadian Energy Regulator predicts that, under the government's plan, in 2050 the amount of oil that will be produced and burned will be the same as the amount of oil burned and produced in 2019.
Liberals are not moving off the carbon economy. In fact, as the Canadian Energy Regulator says, they are planning a massive increase of up to 1.2 million barrels a day. We have already seen this. We have seen Bay du Nord, with an extra 300,000 barrels a day. We see the money they are pumping into TMX for an extra 800,000 barrels a day.
This is not going to help Canadians at the pumps. This is for export. The Deputy Prime Minister made it clear that the primary objective of the government is the supremacy of the market, and the market is exporting Canada's oil and increasing exports to the world market, yet the Liberals claim they are going to get to net zero.
Here is the other part of the scam: Every barrel of oil exported does not count toward Canada's emissions. They are going to come up with some hoodoo numbers to say there are no emissions costs here, but right now, even without the increase of 1.2 million barrels per day, Canada's offshore oil export emissions are more than all of the emissions in every sector in Canada today.
The government says it is not efficient to actually target the full amount of emissions. The fact is that the planet does not care who burns the oil or where it gets burned. The government is committed to driving the oil agenda and giving big oil whatever they ask for to make that happen.
This leads me to the other issue I am very concerned about, which is the so-called “just transition”. It has been very depressing to sit at the hearings on the just transition and see where the government is going on this.
I come from in Northern Ontario where we have lived through unjust transitions. When 4,000 workers lost their jobs in the uranium mines, there was not an alternative. When we lost the entire silver and iron mining economy in Temiskaming, there was not an alternative. The transition then was brutal.
We have seen the economic possibilities. We have Calgary Economic Development and Edmonton Global talking about thousands of new jobs. We also have clean energy tech talking about a 50% increase in clean energy jobs. The problem is that, to get those jobs, we need investment, and the government continues to deliberately underinvest in the new economy, so it is leaving workers high and dry, and it is making vague promises about a transition, but that is not happening.
The clock is ticking. The government, Parliament, leaders in the provinces and our federal leaders are responsible to the next generation as we look at a situation of the planet overheating. The red lines are there, and we have the opportunity and the possibility to transform, but we just do not see the political will. That needs to be challenged.
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- May/17/22 11:48:25 a.m.
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Madam Speaker, it is the first time I have used that word in the House. I was wondering if it was a usable word in the House or a three-letter word that disguised a four-letter word. Thank you for the clarification.
Yes, the information being fomented by Oil Change International is a lie. I will repeat that in the House, because it is the truth.
Let us go back to the analysis and look at the real numbers. I have been looking at the oil and gas industry and how much it has contributed to Canada over the past 21 years, which is $505 billion. That is more than half a trillion dollars it has given in economic rent to governments across Canada. That $505 billion is even a number in the real Liberal world, when it runs its deficits. Let us look at what that buys. How much health care does that buy? How much schooling and old age security does that buy? That buys the lifestyle Canadians have enjoyed for decades here, thanks to a prosperous natural resource industry led by Canada's oil and gas industry. The GDP number I have here is $128 billion, and $120 billion is our trade surplus in the oil and gas industry. That is balanced by about $30 billion of imports, so it is about a $90-billion surplus we are talking about for this industry, and 522,000 jobs.
I know the New Democrats would like to see those 522,000 workers have their legs cut out from under them and not be able to provide for their families, but I do not think they understand the impact that has on families, because the impact it has on families—
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- May/17/22 11:50:49 a.m.
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Madam Speaker, it is the first time that anybody in the NDP has actually challenged me on the truth because the motion they put on the table here is riddled with misinformation, so let us get to the heart of the matter. Do we realize the cost when we lose 522,000 jobs in Canada? It would be devastating for families across this country and there would no longer be any social support provided through that industry, which funds our country more than any other industry in Canada right now.
My colleague pointed out that $20 billion was supplied by this industry as economic rent to governments across Canada last year alone, in not that prosperous a year for oil and gas companies in Canada. That $20 billion would be in addition to the $52-billion deficit, plus all of the economic dislocation that would happen if we actually tried to change this industry more than it is actually already changing itself.
Industry has its own job to do and it is doing it very well. I am going to move to where we are actually looking at this whole notion of profitability. There is something called the reinvestment ratio. When the government came to power, the reinvestment ratio, which is the amount of money the oil and gas companies were spending to drill and develop new resources versus the amount they were actually paying back, was 1.82. That means for every dollar that they earned, they put $1.82 back in the ground to develop a future resource for Canada. It was a development industry.
That number now, members would be surprised to learn, is actually down to 0.29, so 29% of the money that comes through the industry actually gets put into development. That is because there is no line of sight on what happens to the money in the future, and that is a result of extremely poor policies from the government. There is no line of sight. Yes, the government has had to step in and buy infrastructure that should have been built by the private sector, but its policies punished those private sector organizations by asking how we invest in a country where there is no line of sight on how we actually earn money on our investments.
Government investment is fine. Private sector investment actually looks to make sure it gets a return on its investment. It is a concept most of my colleagues, in all four parties in the House, have almost no concept about: a return on investment. That is required around the world, not just in Canada.
Let us talk about the environment a bit. Let us talk about carbon capture, because my colleagues here will know it is one of my premier pieces about how we actually decarbonize the world. Somebody referenced the International Energy Agency. The International Energy Agency, an international organization, of course, says that 7% of our decarbonization will come from carbon capture, utilization and storage over the next 20 years.
However, 7% is not enough. Let us find more ways to decarbonize this industry. When we think about methane reductions in Canada, we lead the world on our environmental practices and how we are actually getting to a better environmental outcome for the world. The industry's production of hydrocarbons is down 30% in its carbon intensity over the past 15 years. That leads every Canadian industry in its decarbonization.
That leads every country in the world, as far as oil and gas industries go. The only two countries we need to compare ourselves with in this regard are the United States and Norway. They are our only two peers. We are far better than the United States and we are on par with Norway, both of which have better carbon capture regimes than we do. We need to do better and make sure that our environmental practices match those of the most advanced countries in the world. We need to be the most advanced country in the world on these decarbonization initiatives.
I am going to deviate now, because I think in the spirit of productivity and in actually working with my colleagues across the aisles, I am going to propose an amendment to this bill where we add at the bottom:
(c) the Government of Canada identifies and eliminates inefficient energy industry subsidies by 2023. It should clearly identify, quantify and phase out programs for the Canadian energy sector that subsidize compliance with existing regulations.
1. Inefficient subsidies shall be deemed as those government grants or payments below market, provisions of capital, contracts for differences, social financing, unequal capital cost allowance allocation differentials, trade access, program funding and expenditures to reduce delayed taxation, such as flow-through financing mechanisms, as provided by all levels of government;
2. Further, “inefficient” shall be interpreted to mean the incentives granted under such programming shall result in fewer funds being provided to all levels of government as a result of the programming. That is, the economic rent received by the various levels of government must be less than that received had the subsidy not been implemented;
3. In addition, as energy is an essential input to society and human development, and the source of the energy is fungible with respect to its social utility, the common measurements be applied across all energy sources that receive any government subsidies or programming from all levels of government. Common comparison elements must include full cycle costing, including purchase and disposition of capital equipment and common depreciation schedules, capital cost allowance rates and accredited capital costs. The level of comparison in costs and benefits is essential to determining relative efficiency of subsidization;
4. Such inefficient allocation of government resources shall not be applied to programming that aims to obtain societal objectives beyond the aim of sourcing safe, secure, affordable energy for Canadians, specifically programming applied for scientific advancements in environmental technologies to better the outcomes—
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- May/17/22 2:28:50 p.m.
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Mr. Speaker, when we are talking about economic drivers in this country, we talk about the oil and gas sector, we talk about aerospace and we talk about the auto sector. It is an important sector for this country, and if we are talking about the rise in gas prices, this is the time when everybody in this House should be focused on getting Vladimir Putin out of Ukraine, not playing cheap politics. That is the real mission. We will keep working on affordability and not worrying about economic engines for this country.
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- May/17/22 2:30:01 p.m.
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Mr. Speaker, I thank my hon. colleague for the question. I have two pieces of good news for him.
We are investing record amounts in the energy transition, more than has ever been spent in the history of Canada, more than every G7 and G20 country. We are investing more in the green transition as part of our economic recovery plan than any other G20 country.
We committed to eliminating the fossil fuel subsidy by 2023, two years sooner than all our G20 partners.
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- May/17/22 4:39:27 p.m.
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Madam Speaker, it is wonderful to be here and it is wonderful to be speaking to this opposition day motion brought forth by the member for Victoria. I would like to start off by framing this opposition motion the way I view it.
When I think of a trifecta and of the energy industry where we are, both domestically and globally, and how it relates to affordability and where gas prices are today, I think of three things. I think of energy security, which means security of supply and also security of work. I think of energy affordability, which means being able to afford the energy we buy. We have seen the prices of commodities rise globally due to supply chain bottlenecks and the barbaric invasion of Ukraine by Putin's regime, which imperils energy affordability. Then, we talk about decarbonization. I think of energy security, energy affordability and then a longer-term transition where we have decarbonization. That is important because, when we think about it, Canada is an energy leader.
This morning, I spent some time researching what I wanted to say this afternoon. I went to the Natural Resources Canada website and looked at the “Energy Fact Book 2021-2022”. There is some great information out there for policy wonks and people who want to understand just how important both the renewable and non-renewable energy industries are to Canada and Canadians from coast to coast to coast. According to the “Energy Fact Book 2021-2022”, produced on the Natural Resources website, direct to indirect jobs total 845,000 folks. These are hard-working middle-class Canadians who earn their livelihoods from this industry. That is very important to understand.
The investments that are taking place, just on the renewable side or clean energy, have totalled roughly $80 billion to $100 billion every year for the past several years. I was looking at the numbers: the total was $92.1 billion in 2021. That is wind, geothermal, nuclear, hydro, solar and tidal. There is this industry in Canada that we need to be extremely proud of, and that I am very proud to support and to speak about on this opposition day motion, from which Canadians are earning their livelihoods. People are putting their kids in school. They are paying for their hockey lessons and swimming lessons, and we are here to support them.
The opposition day motion talks about ending any sort of financial support to the fossil fuel sector. Our budget that we produced states, I believe, that by 2023 there will be no more direct financial support provided to the energy sector, when we talk about the non-renewable side. When we think about energy security, we must think about Canada and areas such as the western Canada sedimentary basin. I know some of my colleagues on the opposite side come from these areas, and I am from British Columbia originally. There are literally tens of thousands of kilometres of pipeline in that area that are moving gas everywhere in North America. In fact, it is being exported via LNG sites in the United States to Europe at this time and helping our European allies. We need to consider that. It is easy to criticize an industry when one thinks it is fun to do so, and I use that word carefully. I do not. There are 845,000 Canadians tied to this industry.
In reference to the carbon capture tax credit, the third pillar I spoke about was decarbonization. With respect to decarbonization, to me the story is to lower greenhouse gas emissions both domestically and globally. We do not want leakage. We will do that in a manner where we work with stakeholders, including industry. Industry has these roughly 845,000 Canadians who earn their livelihoods from the energy industry. That, to me, is what is called “responsible leadership”. That, to me, is doing the right thing and moving this needle and yardstick in the right direction.
In fact, in our budget, and I look forward to seeing the full details in the fall economic statement, we will introduce a new tax credit for investment in clean technology of 30% for zero-emission technologies and battery storage; in clean hydrogen, which is very exciting; and in blue hydrogen, which I have been learning a lot about in the past few weeks. It is very important.
What I think of as the three pillars are energy security, energy affordability and decarbonization. We are on a track that I am proud of, the emissions reduction plan, which is under the umbrella of Bill C-12: the net-zero accountability act. It is accountable, it is tangible and it lays out a framework so that we can decarbonize our economy and, yes, lower greenhouse gas emissions.
To my hon. colleagues in the NDP and the member for Victoria, when I think about affordability, yes, gas prices are absolutely high. Yes, they are absolutely pinching Canadians. We must demonstrate empathy. I know that. I live in the suburbs outside of Toronto, and everyone in my neighbourhood drives two or three vehicles. They have to get their kids to school and sports and they have to drive them home. We understand that and I understand that, but inflationary forces, be they supply chain bottlenecks or how refineries operate, which would take another hour to explain on the refinery margins part, fracking and NAC and all that stuff, and what has happened with Russia's barbaric invasion of Ukraine have driven up prices across the board. Even the Europeans have reached out by saying they need more gas. That is the energy security component.
On the affordability component for my hon. colleague for Victoria, I think about the Canada child benefit that we introduced in 2015, which all parties voted against, including the New Democratic Party. It benefits the residents of my riding in the amount of over $60 million a month. Almost $7,000 can help a family with one child earning below a certain amount. We returned the old age security and GIS eligibility to age 65. In June and July, over three million Canadians will be receiving a 10% increase in their old age security payments, bringing it up to $766. That is how to help on the affordability side, particularly at a time when inflationary forces are elevated, and we must be cognizant of that.
For seniors who are concerned about how they are going to pay their dental bills, we are going to go down that route, just as we got national child care done after the Conservatives scrapped it many years ago. It is going to benefit Canadians from coast to coast to coast and allow for greater and higher labour force participation rates by parents. It will be a boost to our labour supply and good for our productive capacity. We will do the same thing on dental care. We will ensure seniors and individuals who do not have insurance or a copay will benefit from that. Our government has been there for Canadians, and we need to continue to be there.
On the recovery from COVID, as I said, we were there for Canadians and we had their backs. We must work with all industries as we come out of COVID, which we have been, and we must keep our eye on the ball that climate change continues to be the transition in front of us, independent of what is happening in other parts, because that is where the world is going.
The auto sector right now is investing roughly $515 billion in transforming itself into what I call auto to electric vehicles. That is something we are participating in, and we are at the table. It is important that we remain focused on that front.
When I read the opposition motion that talks about carbon capture, utilization and storage and other forces at play, I ask myself what we are doing in the economy that allows us to decarbonize, which is an element of working with stakeholders and listening, and at the same time making life more affordable for Canadians.
There are things we are doing on the housing front, such as providing 100,000 new homes and doubling housing construction, allowing Canadians to save for a home with the first-time homebuyers' investment vehicle, getting the froth out of the housing market by ending blind bidding and speculation, and banning foreign purchases.
On the affordability front, we are doing what is right for Canadians not only for today, but for the long term. I am so proud of the $10-a-day day care national child care plan modelled after la belle province that is going help residents in my riding because, frankly, it costs $1,500 to $2,000 for a family to put a child in day care in the city of Vaughan and York Region. Those are after-tax dollars, and we are going to help them.
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- May/17/22 4:54:38 p.m.
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Madam Speaker, I just want to say that I will be sharing my time with my hon. colleague from Cowichan—Malahat—Langford. I am very much looking forward to his speech. I think we will have a lot to learn from him on this vital topic.
I am very proud to rise in the House to talk about the environment, the climate emergency and the crisis that is affecting us all and will, unfortunately, continue to affect us throughout the coming years. I will also talk about the concrete solutions the NDP is putting forward in this motion.
We could talk about a lot of things. A lot of people are talking about the price of gas right now. It is hurting a lot of people in many provinces and many regions. People are finding it hard to travel or get to work because it is costing them more and more money. I would like to share some data from a graph I found recently by Gérald Fillion, a Radio-Canada economics reporter. He makes it very clear that claims about the price of gas being connected to the invasion, the war, high government taxes or the carbon market are not true.
Between June 2008 and May 2022, the price of oil went from 84.5¢ per litre to 91¢ per litre. This is not that much. The increase is slightly more dramatic in the carbon market, where the price went from 1¢ per litre to 8.8¢ per litre. The refining margin jumped from 9¢ per litre to 48¢ per litre. The biggest increase in the real cost to consumers at the pump is the refining margin, which is the oil companies' profit.
We could tax these large companies, which are making huge profits. We could put forward very simple solutions, such as those proposed by the leader of the NDP, which include temporarily suspending the GST on heating bills; increasing the GST tax credit, which would help those most in need and a good part of the middle class; and increasing the Canada child benefit, a progressive measure that would once again benefit those most in need, workers and the middle class.
Clearly, the money is there, and the economics reporter's table shows us why oil companies are seeing a dramatic increase in their ability to make profits.
During the first quarter of 2022, in three months, Suncor Energy, Imperial Oil and TC Energy posted $2.95 billion, $1.17 billion and $1.1 billion in profits, respectively.
The Liberals are giving them money. They think that these companies do not have enough. They are taking consumers' and taxpayers' money, even though the government has been promising them since 2009 that it would reduce oil and fossil fuel subsidies. They have still not even begun to do so, other than a few crumbs in the last budget. The government is also behind, in terms of its pairing with Argentina to review progress in phasing out subsidies to oil companies.
What is more, the government found another present in the latest budget in the form of $2.6 billion tax credit for these companies to invest in a technology that most people doubt is even feasible. It is a pointless pursuit, a technological fantasy that distracts us from real solutions for a carbon-free society and economy. Most of the countries that have tried carbon capture have not been successful.
My colleague from Vancouver East asked a good question earlier. With the record profits that these companies are making, can someone explain why they need public money to invest in new technologies? It seems to me that they are on quite solid financial ground. If they believe that it is the right thing to do and want to help reduce greenhouse gases in Canada, it seems to me that they have deep enough pockets to make those investments.
There are two problems. First, the technology is not really reliable nor is it guaranteed. I will come back to that. Second, these companies do not need this money. Unfortunately, it would seem that the Liberals and the Conservatives are addicted to fossil fuels and unable to rid themselves of this dependency and to begin the shift and the transition that is required.
The following saying is erroneously attributed to Einstein: Insanity is doing the same thing over and over and expecting different results. Everyone believes that Albert Einstein said that, but it is not true. Someone else did. It really does not matter, because it is a good saying.
Why do we continue to double down on this economy?
Yes, it provided for communities, families and provinces for decades. No, it will not go away overnight, but it is not the economy of the future. We need to make this transition. We need to invest in training our workforce. We need to invest in green and renewable technologies that will also help create jobs, but we are not doing that. We are doing the same thing we have always done, thinking it will produce different results. That is not going to work. It has not worked for 10 years. It has not worked for 15 years, but the government still insists on giving gifts to these corporations.
Recently the Liberal government was quite proud to boast that Canada's greenhouse gas emissions had declined for the first time in 2020. What happened in 2020? It was the pandemic.
The economy was shut down. Manufacturing, transportation and foreign travel came to a halt. People were holed up in their homes, no longer using their cars or trucks. It took a global pandemic and an economic shutdown for the Liberals to be able to say that GHGs went down over the course of a year. This is nothing to be proud of. I heard the Minister of Environment and Climate Change recently, and I could not believe it. I think we need to be a little more discerning and take a much safer path, one that listens to science and is serious about our collective future, our jobs, our ecosystems and our future generations, but that is not the case here.
Despite all the rhetoric, all the promises made, and the fact that various environment ministers have attended COP24, COP25 and COP26, aid to oil companies from successive Liberal governments has been, on average, higher than the Harper government's financial aid to oil companies. They all told us, with tears in their eyes, that this is important and that they would be able to do things differently.
Unfortunately, we are going to have to continue pushing the Liberals—both in the House and outside—to finally do the right thing, because the measures currently in place will not get us where we need to go. As a reminder, Canada provides more public funding to the fossil fuel sector than any other G20 country. Between 2018 and 2020, there was 14 times more funding for oil and gas than for renewable energies. I hope my colleagues think that is unacceptable. We are not moving in the right direction, and it is important to say it.
The Liberals promised in 2009, before the G20 and the entire world, to end inefficient fossil fuel subsidies. What is sad and incredibly politically cynical is that several years later, the Commissioner of the Environment and Sustainable Development has to remind us that there is no definition for an inefficient subsidy. Moreover, it is not the Department of the Environment that determines what is efficient or inefficient, it is the Department of Finance.
For the finance department, it is not rocket science. If it makes money, it is efficient. If we want to reduce greenhouse gases, which is more of an environment and climate goal, we need a clear definition of the goal, which is to be a net-zero society by 2050. We need to take specific steps between now and then so we can see our progress and figure out which measures work and which do not.
People often talk about the cost of investing in renewable energy or training, but they never talk about the cost of doing nothing. If we do nothing, we will see more droughts, more floods, more forest fires. The climate refugee crisis will get even worse. Not long ago, it was 53°C in India and Sri Lanka. Massive parts of the planet may become uninhabitable. Those people will migrate. Naturally, they will want to survive. That could cause wars to break out. The cost will be exorbitant. The Liberal status quo will not save us.
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