Thank you for the question.
The figures that you quoted aren't the ones that I've seen. Canadian oil sands companies made around $35 billion in profits. According to independent analyses, these oil companies invested around 1.4% of this $35 billion in decarbonization. In my opinion, that's clearly not enough. The cap on greenhouse gas emissions means that these companies will invest in decarbonization, technology and job creation in Canada. Right now, they aren't making these investments.
In an increasingly carbon‑neutral world, we'll likely continue to use oil. However, the oil will have a very small carbon footprint. If we don't invest in decarbonization, our oil will simply no longer be competitive with the oil from other countries or from other parts of Canada. For example, oil extraction in the Atlantic generates ten times fewer emissions than oil sands extraction. If we want an industry, jobs and communities that are viable over the long term, we're in serious trouble.