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View Peter Julian Profile
Thank you very much.
I'm going to continue with Mr. Van Iterson and Ms. Daviet.
In your submission to the committee, you referenced committing to not introducing new subsidies for fossil fuels, not spending additional funds on the expansion of Trans Mountain pipeline and ending the EDC's financing and support of fossil fuels. We heard testimony yesterday from the Department of Finance, who are now talking about running the escalated costs of Trans Mountain—$15 billion to $17 billion, according to most estimates—through the Canada Account of the EDC. That means that the federal government would assume all of the risk of this massive subsidy. That would take fossil fuel subsidies into the stratosphere for a project that, the moment the updated construction schedule is announced, and those construction costs, the shippers will be allowed to pull out. That is why we've never had an update in five years around Trans Mountain.
When you consider how important these recommendations are from the Green Budget Coalition, to what extent do you think it would be wrong-headed of the government to simply, through the Canada Account, subsidize Trans Mountain by $15 billion to $17 billion when there are so many other pressing needs and we have the climate emergency upon us?
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