That's a good question, because the ECCC's scenario is already wrong. It's already based on data that has proven to be wrong. I think it was based on Canadian Energy Regulator scenarios, which were in turn based on International Energy Agency scenarios. As most of you in this committee probably would have noticed, a month ago the IEA came back and said their current policy scenario doesn't see peak oil this decade and sees pretty much plateaus until 2050. If you went back and put that into the ECCC model, you would see that it was extremely ambitious. It hasn't played out that way at all. There's a huge gap.
In fact, even the PBO numbers look very conservative and are not on track with reality here in October 2025. It does look like the Conference Board and Deloitte numbers were the most representative of what's actually happening in reality.
