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Hon. Seamus O'Regan (Minister of Labour and Seniors, Lib.)

May/2/24 12:32:28 p.m.
Watch
Re: Bill C-49

moved that Bill C-49, An Act to amend the Canada—Newfoundland and Labrador Atlantic Accord Implementation Act and the Canada—Nova Scotia Offshore Petroleum Resources Accord Implementation Act and to make consequential amendments to other Acts, be read the third time and passed. He said: Mr. Speaker, I am honoured to have the opportunity to speak to Bill C‑49 today. People in Newfoundland and Labrador have relied on the ocean's resources for centuries. It is what we know. It feels somewhat historic when we talk about the Atlantic accord. Someone not from Newfoundland and Labrador might not realize the significance of the agreement. Particularly for Newfoundland and Labrador, the Atlantic accord is fundamental to the respect and recognition shown between federal and provincial governments. The accord was an agreement signed in 1985 that bound the Government of Canada and the Government of Newfoundland and Labrador to a common understanding that the people of our province are the principal beneficiaries of their natural resources. The Atlantic accord recognized what my province brought into this country. It recognized the historic resource strengths of Newfoundland and Labrador, and today it recognizes that strength for the future because now the accord would apply to renewable energy, to wind energy. A Newfoundlander's talking about wind may come as a joke to some. We do have a huge opportunity in harnessing the wind in our province. We have a lot of it, wind that will power not just the grid but also some groundbreaking hydrogen projects. The province knows it and so do we. It is why we work so closely together to manage and develop that resource. The bill before us represents a moment of opportunity, and down my way, we know how to seize opportunity when it comes. Times were bleak after the cod moratorium until “first oil”, until Hibernia, when we really did not have a clue what we were doing. I remember “first oil”. We knew, though, that it was possible. We knew it could be done. Jointly managed and regulated through the soon-to-be-former C-NLOPB, we stayed the course and people prospered. We did this in what the president of ExxonMobil told me was one of the harshest environments in the world to operate, but we did find a way. More important, we built up one of the most skilled labour forces that the world has ever seen. and people noticed. Companies noticed, much like they are looking to us now. In 2019, we renewed the accord. We established a Hibernia dividend for the Province of Newfoundland and Labrador, which was $3.3 billion of secure, long-term and predictable payments that run from 2019 to 2056. More important, it also recognized the province as the principal beneficiary of its resources. I am very proud to have helped negotiate the agreement, and I stand by the document. Now is the time to renew the accord again. In fact, to call the amendments “amendments to the accord” feels a little wrong. It is a natural evolution because the world is evolving. Where we get our energy is evolving and investment is evolving. The Atlantic accord would include renewable energy so Newfoundlanders and Labradorians could be the principal beneficiaries of that too. We would not be losing what we built on the offshore. We are very proud of it actually. People of my province and the government there are hand-in-glove with this when it comes to the energy mix. We accept the world as it is. We embrace it. We applaud the engineering skills that built a West White Rose gravity structure, because they are the same skills that will help construct wind turbines and the monopiles that are stored next door in Argentia. Let us think about all the jobs that come with this work; as Minister of Labour, I know I do. When we have a good management structure in place, the more projects that we attract and build and the more jobs that they bring, the better. They are good, well-paying jobs. Right now there are oil and gas companies across Canada that are making sure that the expertise of our workers can be used to build renewable energy projects, and we are going to need every worker we can get because big things are happening and they are happening quickly, but they will not happen as quickly if we do not have the workers. I have said this before: If someone grows up on a rock in the middle of the ocean or if they grow up in a small town in Labrador like I did, they cannot afford ideology. They grow up seeing the world as it is, not as they wish it to be. They accept the world as it is. They accept opportunities for what they are, and they are clear-eyed about it. Between the Minister of Rural Economic Development, the member for Avalon, the member for Bonavista—Burin—Trinity, the member for Labrador, the member for St. John's East and me, we knew the accord would need to reflect the changes in the times. As companies and markets look to renewables, Newfoundland and Labrador needs to be well managed. It needs to be well positioned, and when it comes to energy, Newfoundlanders and Labradorians do not like playing catch-up; we like to lead. Even our province's oil and gas industry association's biggest champion, Noia, changed its name to reflect the global shift in energy; it is now Energy NL. Sustainability and reducing emissions has become the name of the game, so Energy NL's vision is a sustainable and prosperous lower-carbon energy industry. With all of the wind, we are now seeing big hydrogen projects on our doorsteps, first-of-their-kind facilities. When I was the natural resources minister and we were developing Canada's hydrogen plan, never did I think I would see the German chancellor's plane one day land on the west coast of Newfoundland at Stephenville airport, carrying the CEOs of Seaman and Mercedes. They were saying that they could invest in and create a green hydrogen facility anywhere they choose to, and that they chose us. If people have not been out my way, I can tell them that it can get windy. The winds off the Atlantic coast rival those of the North Sea, which is the birthplace of the world's offshore wind industry. This gives Newfoundland and Labrador and Nova Scotia a once-in-a-generation opportunity to become the leaders in an energy sector of the future, to support our region's industrial future and create good jobs that will exist for generations to come. It is expected that the offshore wind industry will attract one trillion dollars' worth of investment by 2040. We would be out of our minds to think we would not be ready for that kind of money and those kinds of jobs. We are talking about renewable energy. That is a change, one that sometimes makes people anxious. However, this is not about politics; it is about markets, investments and jobs. Industry understands something that skeptics do not, which is that the world is looking for renewable energy, wind and solar, in the overall energy mix. We can sit on our hands and let those industries be built in other countries and let their workers get the good jobs, or we can get in on the ground floor and make sure that workers here get the jobs. We can make sure that Canadian workers, Atlantic Canadian workers, Newfoundlanders and Labradorians, are the ones who will be selling renewable energy to the world and taking home the profits. We are going to ensure a great future for the people of my home province, Newfoundland and Labrador. By passing Bill C-49, we would secure Newfoundland and Labrador's and Nova Scotia's futures as forces to be reckoned with in the global offshore wind and renewable energy sectors.

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