The Acting Chair (Mr. Bruce Stanton): We'll continue. The next question will go to Mr. Yurdiga.
Mr. David Yurdiga (Fort McMurrayCold Lake, CPC) : Thank you, Mr. Chair. Before I start my questions, I would like to thank the various ministers, parliamentary secretaries and the Speaker of the House for reaching out to me during the severe flooding in Fort McMurray. Your support during these trying times is much appreciated. The oil and gas industry is under severe strain. Over the past number of years, we have seen tremendous pressure on the federal government from anti-oil and gas lobby groups demanding that the oil sands be shut down. The federal Liberal government's response to the anti-oil lobby was the introduction of the no more pipelines bill, Bill C-69, which will prevent any major oil and gas projects from being developed in Canada; and the oil shipping ban, Bill C-48, for the northern coast of British Columbia, which also had a negative effect on the oil industry. These two bills alone pushed over $200 billion of investment out of Canada, causing the Alberta economy to retract to recession levels. To compound Alberta's economic problems, we have an international oil price war and the COVID-19 pandemic, which caused a huge drop in demand for oil. Mr. Chair, 48 days after the finance minister promised liquidity loans to oil producers and service companies, there are still no applications open for these loans. Can the honourable Minister of Natural Resources tell us when the Liberals will act on their promise?
Hon. Seamus O'Regan (Minister of Natural Resources) : Mr. Chair, I'm happy that we were able to announce today some liquidity measures for large cap corporations in the oil and gas sector. These measures will provide them with the liquidity that they needed, and this is also the liquidity that they asked for. It was on April 17 that we started liquidity measures for small and medium-sized businesses in the oil and gas industry, and those are the ones in which 85% of workers are affected. Today's measures will complete that. I'm very happy that we've had such people as the Canadian Association of Petroleum Producers come out and say that this is what they asked for and this is what they need, and we have produced what they need in order to ensure the future competitiveness of Canada's oil and gas sector.
Mr. David Yurdiga: Mr. Chair, we have seen junior oil companies close their doors. The larger companies have sent contractors home and laid off employees. Many of these contractors are indigenous companies, and they are having a difficult time qualifying for programs to save their businesses. Can the honourable Minister of Crown-Indigenous Relations inform us of the measures the government is taking to ensure there are no gaps in the current programs, and commit to review the eligibility criteria for owners of aboriginal businesses struggling to qualify for financial help?
Hon. Seamus O'Regan: Mr. Chair, Canada's oil sector provides jobs for more than 576,000 people, including 11,000 indigenous people, in every part of Canada. It is essential that we support those businesses. It is essential that we support the many indigenous people who work in our oil and gas sector, particularly in Alberta and Saskatchewan. We have provided supports for those businesses, and we will continue to do so, also keeping in mind that in many of these communities the importance of public health and safety is foremost in our minds.
Mr. David Yurdiga: Mr. Chair, western Canada oil storage is under extreme pressure. If thermal projects such as SAGD are shut down, those facilities could be lost forever. If the global oil markets remain oversupplied into the summer and industry must shut down production, what is the government's plan to ensure Canada's energy security and the economic future of the oil sands with the potential shutdown of oil production?
Hon. Seamus O'Regan: Mr. Chair, we have worked with industry and with provinces on every front to ensure the stability of the oil and gas sector of our country. We have concentrated on workers. We need the workers in our oil and gas sector in order to lower emissions and achieve a greener economy. We need their determination and their ingenuity. We need to make sure that their jobs are held whole. Therefore, we are looking after workers and we are looking out for companies that hold onto those jobs for those workers.
Mr. David Yurdiga: Mr. Chair, the government's assistance package for the Canadian oil and gas industry provides some hope to the industry. The lack of detail and action has led to some challenges. Can the minister clarify? On a medium-sized energy company's eligibility, if the company is in default to financial institutions, does it still qualify for the business credit availability program?
Hon. Seamus O'Regan: Mr. Chair, we know that our oil and gas sector is suffering through two crises. We have the impacts of COVID and the effects of a global price war, and we have been tackling both of these on each front. On April 17, we announced liquidity measures to support the small and medium-sized players. That made up 85% of the jobs in this sector. We have announced liquidity will be further made available to larger players. As well, through the BCAP, we are making sure that more companies are eligible so that they can remain whole and so they can hold onto the jobs that we need.