Thank you, Mr. Chairman.
For starters, I'd like to come back to Mr. Gourde's comment about the capital cost allowance. The three of you were being very kind, in my opinion, when you claimed that everything was going well. However, I think you have some major problems on your hands. You should be asking for a great deal more. Fortunately, Mr. Thorne told us earlier that the nuclear energy industry received more funding than all of the other renewable energy industries in Canada combined.
Were you aware that several years ago, the Canadian nuclear industry was being funded to the tune of $500 million per year, whereas the combined funding awarded to all renewable energy industries totalled only $5 million per year? Last year, Canada's nuclear industry received $175 million, whereas once again, you received a mere pittance. It defies comprehension. We shouldn't be deluding ourselves into thinking that we're going to develop solar energy. There are people like Mr. Allen—and I can understand him—who don't know that solar energy is one of the most powerful energy sources. He was surprised to hear that. I can understand, because nothing has been said about this energy source. You continue to be short-changed.
Yet, your industry's potential is enormous. Your lovely chart ignores geothermal energy. But the fact is that in the United States, research into geothermal energy is being funded. How much is Canada spending in this area? Nothing, or almost nothing.
Recently, the Massachusetts Institute of Technology found that geothermal energy in the United States could produce anywhere from 255 to 5,000 times more electricity. The potential of geothermal energy is enormous and Canada has even more geothermal energy than the US. All existing and future buildings in Canada could be heated by geothermal power. Passive solar energy could be used to heat all buildings in Canada. Why isn't this being done? Because there has been no incentive on the part of the federal government. That needs to change. At one time, work was being done in this area, but Mr. Mulroney closed down the research labs on Montreal Road in Ottawa.
Clearly, we are wasting energy producing greenhouse gases, when we could be avoiding this. You three are the only ones capable of preventing greenhouse gas emissions. However, there's no question that more funding is provided to research on oil than on passive solar energy, despite the incredible potential of this energy source. Therefore, there's a very real problem here. Capital cost allowances are just a minor problem. There is no incentive or money to develop renewable energy sources.
I'm astonished, Mr. Tanguay. Why did you not address the need to conduct in-depth research on geothermal energy?