Thank you, Mr. Chair.
I thank my colleague for moving this important motion. Indeed, if we want to reach our greenhouse gas reduction target by 2035 and get as close as possible to net zero by 2050, it is absolutely essential that we deal with the oil and gas sector.
It is important to note that this regulatory framework includes a consultation period as part of the next steps. In fact, the regulatory framework for capping greenhouse gas emissions from the oil and gas sector proposes different discussions. If we want to reduce greenhouse gas emissions at a good pace, we will have to rely on the participation of all stakeholders, not only the environmental community, but also the industrial community and the oil and gas sector.
I don't know what your thoughts on this are, but we are at a crossroads right now, and we absolutely have to work together. Imagine what our children and grandchildren will tell us if global warming ever approaches 2°C: They will look us in the eye and ask where we were and what we were doing when it was time to act. I am thinking of my colleague Mr. Leslie, who will soon be a dad. What will he say to his children?
That's why it's important to recognize the challenges we face in Canada in meeting our 2050 targets. The oil and gas sector has seen its greenhouse gas emissions increase, so I think we need to redouble our efforts for our children and grandchildren. There will be no other opportunity to act. Now is the time to do it. That is why I wholeheartedly support this motion, even though we will not be studying the regulatory framework right away, since we are doing a study on water, which is just as important. I'm very much looking forward to seeing progress in that sector. Reducing methane emissions from this sector and capping its greenhouse gas emissions are two very important initiatives.