Speech (committee meeting)

{
    "time": "2024-04-29 17:05:00",
    "attribution": {
        "en": "Hon. Michael Chong (Wellington\u2014Halton Hills, CPC)",
        "fr": "L\u2019hon. Michael Chong (Wellington\u2014Halton Hills, PCC)"
    },
    "content": {
        "en": "<p data-HoCid=\"8375093\" data-originallang=\"en\">Thank you, Mr. Chair.</p>\n<p data-HoCid=\"8375094\" data-originallang=\"en\">I want to talk about Africa's economic situation, particularly as it relates to energy. Africa's sovereign debt has risen quite substantially in the last number of years. According to the data I have, the debt load has increased about 183% since 2019, far faster than the increase in GDP in Africa. We've had African growth on the entire continent essentially stall out since the great financial crisis of 2008.</p>\n<p data-HoCid=\"8375095\" data-originallang=\"en\">Presently, Africa uses four million barrels of oil a day for a population of 1.4 billion people. To put that in perspective, we in Canada use 2.5 million barrels of oil a day for a population of 40 million people. What will likely happen over the next number of years, as African growth gets back on track, is you'll see a substantial jump in energy consumption on the continent. Most developing countries have three times the oil consumption per capita that Africa has, at roughly three barrels of oil per day per capita. That would mean that in the entire African continent, we would be going from four million barrels a day in oil consumption to 12 million barrels of oil a day.</p>\n<p data-HoCid=\"8375096\" data-originallang=\"en\">I just wanted to put those numbers on the table and seek your comment on that.</p>",
        "fr": "<p data-HoCid=\"8375093\" data-originallang=\"en\">Merci, monsieur le pr\u00e9sident.</p>\n<p data-HoCid=\"8375094\" data-originallang=\"en\">Je veux parler de la situation \u00e9conomique de l'Afrique, particuli\u00e8rement en ce qui a trait \u00e0 l'\u00e9nergie. La dette souveraine de l'Afrique a augment\u00e9 consid\u00e9rablement au cours des derni\u00e8res ann\u00e9es. Selon les donn\u00e9es dont je dispose, le niveau d'endettement a augment\u00e9 d'environ 183 % depuis 2019, ce qui est beaucoup plus rapide que l'augmentation du PIB. La croissance africaine sur tout le continent a essentiellement stagn\u00e9 depuis la grande crise financi\u00e8re de 2008.</p>\n<p data-HoCid=\"8375095\" data-originallang=\"en\">Actuellement, l'Afrique consomme 4 millions de barils de p\u00e9trole par jour pour une population de 1,4 milliard d'habitants. Pour mettre les choses en perspective, au Canada, nous consommons 2,5 millions de barils de p\u00e9trole par jour pour une population de 40 millions d'habitants. On assistera probablement au cours des prochaines ann\u00e9es, \u00e0 mesure que la croissance africaine se r\u00e9tablira, \u00e0 une hausse substantielle de la consommation d'\u00e9nergie sur le continent. La plupart des pays en d\u00e9veloppement consomment trois fois plus de p\u00e9trole par habitant que l'Afrique, soit environ trois barils de p\u00e9trole par jour par habitant. Cela voudrait dire que dans tout le continent africain, on passerait de 4 millions de barils par jour \u00e0 12 millions.</p>\n<p data-HoCid=\"8375096\" data-originallang=\"en\">Je voulais simplement vous faire part de ces chiffres et vous demander votre avis \u00e0 ce sujet.</p>"
    },
    "url": "/committees/foreign-affairs/44-1/104/michael-chong-1/",
    "politician_url": "/politicians/michael-chong/",
    "politician_membership_url": "/politicians/memberships/1440/",
    "procedural": false,
    "source_id": "12702221",
    "document_url": "/committees/foreign-affairs/44-1/104/",
    "related": {
        "document_speeches_url": "/speeches/?document=%2Fcommittees%2Fforeign-affairs%2F44-1%2F104%2F"
    }
}