December 3, 1979 (31st Parliament, 1st Session)

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Hon. J.-J. Blais@Nipissing

Mr. Speaker, pursuant to Standing Order 43, I rise on a matter of urgent and pressing necessity. Canadians, facing tight oil supplies this winter and concerned with the total inability of their government to take any decision in energy matters, except the dismantling of Petro-Canada, have been shocked to learn that at least two of the major oil multinationals have been siphoning millions of Canadian dollars to their United States parents, while others have diverted large amounts into enterprises unrelated to the oil and gas industries.
Since the amounts of Canadian dollars passing through the hands of multinationals annually may exceed $25 billion, or 10 per cent of the gross national product of Canada, I move, seconded by the hon. member for Ottawa Centre (Mr. Evans):
That this House urges the government to charge the Auditor General to inquire, pursuant to section 11 of the Auditor General Act and section 9 of the Petroleum Corporations Monitoring Act, into the financial activities of the oil multinationals operating in Canada, including the transfer of funds into parent companies as well as the diversion of funds into investments unrelated to the oil and gas industry in Canada or abroad.

Topic:   ROUTINE PROCEEDINGS
Subtopic:   CALL FOR INQUIRY INTO FINANCIAL ACTIVITIES OF OIL MULTINATIONALS-MOTION UNDER S.O. 43
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