Speech

Good morning.

I’d like to thank all of you for coming out together for an important announcement that highlights our Government’s effort to curb greenhouse gas emissions.

We have moved forward with regulations that require all gasoline to have a five percent average renewable fuel content, which came into effect on December 15, 2010.

I am here to tell you that we have also followed through on our commitment to require that diesel fuel and heating oil have a two percent renewable fuel content.

Many provinces also have such requirements in place.

Our two biofuels requirements, combined with those of the provinces, will reduce annual greenhouse gas emissions by up to four megatonnes.

In more practical terms, this is the equivalent of taking approximately one‑million vehicles off of the road.

Further, these regulations will also generate more than environmental benefits.

As an important part of the Government’s Renewable Fuels Strategy, these regulations will establish a demand for renewable fuels that will help stimulate the Canadian biofuels industry, resulting in new jobs being created and opportunities for farmers. 

The biodiesel requirement comes into effect on July 1, 2011.

Of course this date is just a few days away, so it’s important to note that there will be an 18 month first compliance period in order to provide some flexibility for companies in meeting this requirement.

We have listened to stakeholders’ concerns.

Incorporated in the final amendment are some other flexibilities in the regulations which we feel effectively balance competitiveness impacts on Eastern Canada with the need to minimize delays to support the domestic biodiesel industry in moving forward.

This is a key initiative that will bring us closer to achieving our goal of reducing greenhouse gas emissions by 17 percent from 2005 levels by 2020.

We are proceeding on sector by sector approach. This initiative in the transportation sector—the largest single sector of emissions in Canada—is another example of how seriously we take our responsibility to reduce our emissions.

Our biofuels requirements are complemented by our work to establish new standards for emissions from passenger vehicles. We are also working to do the same for heavy trucks.

Ladies and gentlemen, let there be no doubt. We are making progress in our efforts to reduce greenhouse gas emissions in a way that achieves real environmental and economic benefits for Canadians.

Thank you.