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House Hansard - 324

44th Parl. 1st Sess.
June 4, 2024 10:00AM
Context: House Hansard - 324 - Jun/4/24
Mr. Francis Scarpaleggia (Lac-Saint-Louis, Lib.)
  • Jun/4/24 11:34:17 a.m.
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Madam Speaker, the CEOs of five big oil companies are coming to the environment committee on Thursday. We know these companies are keeping the prices high, earning excess profits and not reinvesting those profits. Does the member think those companies should be broken up into lots of little companies? Would he vote for something like that, or does he take his marching orders from the gas tax-hiking Premier of Alberta, Danielle Smith?
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Context: House Hansard - 324 - Jun/4/24
Mr. Ben Carr
  • Jun/4/24 4:15:40 p.m.
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Mr. Speaker, one of the things that we did hear on the study on food price stabilization that was undertaken at the agriculture and agri-food committee was that it was not entirely clear where some of the profits were being derived from. The margins on food, we heard, were not all that large, but a lot of the profits came from some non-food-related items. For example, that could be things like pharmaceuticals and other everyday items. I would be interested in looking at that report and understanding a little more, but I do not disagree that there is a pretty significant amount that CEOs are earning. I do appreciate, as well, when the member talked about the oil and gas industry, that so much of the conversation that has been attacking a price on pollution has been talking about the increase at the pump. However, so much of the increase that we are seeing at the pump is coming from the oil and gas industry. I am always open to learning more. I am not sure I would agree fully with my colleague about the excess windfall tax, but there are some points there I certainly do take.
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