Thank you, Mr. Chair.
Thank you, Minister, for being here with us this morning.
You talked a lot about the environmental footprint. In fact, chapter 4 discusses little else. However, a recent report indicates that in 2011, one additional megatonne of GHG was emitted into the atmosphere, as compared to 2010 levels. You know very well that the previous Commissioner of the Environment and the report of the National Round Table on the Environment and the Economy both expressed serious doubts regarding the reduction of emissions and attaining the objectives by 2020.
In addition, the Canadian hydrocarbon industry intends to develop 14 new coal, gas and oil extraction projects over the next few years. Between now and 2020, they would produce a quantity of CO2 emissions equivalent of that of the United States. We are talking about 300 billion tonnes of new emissions from now until 2050. The oil sands will emit up to 420 million tonnes of greenhouse gases a year, and there is still no regulation, sector by sector, in this area, regarding GHG.
Last May 16, on its website, the World Bank talked about the importance of setting a price on carbon to fight climate change. Moreover, with all due respect, the provinces are the ones that have made all of the efforts to reduce greenhouse gases. Quebec and California have set up a carbon exchange.
Regarding greenhouse gases, I want to know, sector by sector, on what science your approach is based, and what are the costs involved.