A nation wishing to grow its economy and provide jobs for its people must have the ability to create new wealth.
Economists report that currently one-third of our economy is wealth creation, one-third to those that cycle the fruits of the wealth creator (people that supply the consumer market), and one-third government services.
Without wealth creation the other two- thirds do not exist. Without money earned by consumers so they can spend, there is no supply market, and without tax dollars, there are no government services.
This is why our government is in support of a responsible development of the Alberta oil sands. In the next 25 years, the oil sands production will add $2.1 trillion to our economy. The taxes paid will be $311 billion to the federal government, $105 billion in provincial tax and $350 billion in provincial royalties.
The oil sands will create 905,000 jobs in total at its peak, with 126,000 of those jobs outside of Alberta. Of those 126,000 jobs approximately 30,000 will be in B.C.
Supplies and services to the industry purchased in B.C. are estimated to be $28 billion.
Canada has the most stringent and comprehensive environmental regulations in the world.
Canadians want to protect the country’s natural beauty and wish to have responsible development.
Why would government or industry want it any other way?
Technological innovation has helped improve the process of oil extraction, as well as minimize the impact to the environment.
The Gateway Pipeline will also go through the same environmental assessment process.
This pipeline is an important market link to the Asia Pacific and will allow Canada a second market for our oil. The Canadian Energy Pipeline Association has more than 100,000 kilometres of pipe in the ground in North America. They invest $1.2 billion annually to ensure safe and effective delivery of their product.
Canada’s oil production is 2.8 million barrels per day -- the sixth largest producer in the world. We export 1.8 million barrels a day valued at $38.9 billion a year. Mostly all of our exports are delivered through a pipeline.
Most westerners are not aware that 80 per cent of the oil refined in Quebec and Atlantic Canada is delivered by oil tankers that come from foreign suppliers.
All the oil super tankers today must meet international standards which require double-hulled ships. There has never been an oil spill from a double-hulled tanker. Canada should not be importing oil when we have an abundant domestic supply.
The planned pipeline expansion in eastern Canada by Enbridge will bring western oil to eastern markets and all but ensure Canada’s energy security.
The proposed pipeline in northern B.C. will help us supply the growing markets in Asia.
-Colin Mayes, MP