Discussion · Government Orders
Gord Johns NDP
“I oppose this bill. Norway uses billions in oil and gas money to fund clean energy and help its people. Instead of taxing big oil profits to pay for clean power, this government lets companies keep the money.”
“Mr. Speaker, I really appreciate my colleague talking about Norway, because Norway, as my colleague knows, also has a sovereign wealth fund. They have taken a portion of finite resources from their oil and gas industry, and they have created a fund that is $1.7 trillion right now. In terms of royalties alone, they earn over $200 billion a year off those royalties. They have taken leadership on EVs. What did the Liberals do? They rolled back their commitment on the EV mandate. They created a sovereign wealth fund, but they did not fund it with an excess profit tax or by taking royalties from oil and gas. They are letting them have a free ride. I keep bringing it up in the House. We have this generational opportunity right now. Oil and gas are posting record profits. Carve off some of those profits, invest in future generations and invest in projects for the future, like clean energy and like a transmission line. Instead, they are just letting it flow to CEOs and their investors. That is exactly what this bill is like.”
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Mr. Speaker, I really appreciate my colleague talking about Norway, because Norway, as my colleague knows, also has a sovereign wealth fund. They have taken a portion of finite resources from their oil and gas industry, and they have created a fund that is $1.7 trillion right now. In terms of royalties alone, they earn over $200 billion a year off those royalties. They have taken leadership on EVs. What did the Liberals do? They rolled back their commitment on the EV mandate. They created a sovereign wealth fund, but they did not fund it with an excess profit tax or by taking royalties from oil and gas. They are letting them have a free ride. I keep bringing it up in the House. We have this generational opportunity right now. Oil and gas are posting record profits. Carve off some of those profits, invest in future generations and invest in projects for the future, like clean energy and like a transmission line. Instead, they are just letting it flow to CEOs and their investors. That is exactly what this bill is like.