On January 31, I spoke in the House of Commons about the half trillion in taxes paid by the oil and gas industry.
The transcript of my remarks:
Five hundred billion dollars.
That’s the amount the oil and gas industry has contributed to Canadian governments as tax revenue over the past 20 years.
Canadians have spent the same amount of money – half a trillion dollars – importing oil at world prices from foreign suppliers, over the past 30 years – without any meaningful contribution to Canadian tax revenues
So – when I hear the word ‘subsidized’ being applied to Canada’s oil and gas industry, it makes me wonder.
‘Subsidized’ and half a trillion dollars of contributions do not reconcile.
Surely, no informed Canadian would repeat such a non-sensical narrative.
When false narratives marginalize this contribution, we need to ask – how do we replace five hundred billion dollars?=
Canadians enjoy a great standard of living. Our environmental protection and social programs are the envy of the world.
And what makes this possible? Five hundred billion dollars from our responsible Canadian Oil & Gas sector.