Liberals Remove Small Oil and Gas Loans
June 19, 2020 – Two Hills, AB: Shannon Stubbs, the Member of Parliament for Lakeland and Conservative Shadow Minister for Natural Resources, issued the following statement on the removal of the dedicated small and medium oil and gas employer emergency loan program:
“The removal of the oil and gas specific loan program proves the Liberals never had any intention of helping struggling oil and gas employers. It was all just smoke and mirrors. Literally hours after the last COVID-19 parliamentary accountability session ended to start the summer recess, the Liberals removed the oil and gas loans with an end of day web page update. Their disdain for Parliamentary accountability could not be more apparent.”
“The Finance Minister stated 86 days ago that financial support for small and medium oil and gas employers would be accessible in ‘hours,’ and ‘certainly not weeks.’ Despite his claims that he understood the unique global challenges, and the disproportionate damage impacting the oil and gas sector, he and the rest of the Liberal government kept true to their ‘death by delay’ tactics, waiting almost three months before removing this program.”
“The Liberals still have not answered basic questions about the loan conditions, such as when did the ‘current economic environment’ start – a key qualifier for determining previous economic viability, or how financial stability or viability will be assessed. What if the primary financial institution a business deals with is not a partner with this program – will the ‘jointly provided’ loans still be available?
“Today’s removal of the oil and gas loans shows, without a shadow of a doubt, that the anti-oil and gas voices in the Liberal cabinet won, despite the promises of the Finance Minister, Natural Resources Minister, and the Deputy-Prime Minister.”