Minister, thank you. Let me move towards carbon capture, utilization and sequestration.
As you know, in the last Parliament, I put forward a bill to get an investment tax credit for CCUS in Canada. I understand that the discussions are ongoing regarding whether we include enhanced oil recovery as part of the investment tax credit for carbon capture, utilization and sequestration. We are hearing many noises from your department that they are not going to include enhanced oil recovery. May I suggest to you that excluding enhanced oil recovery will make us uncompetitive with the 45Q regime that is just south of our border in the United States?
Having to pay for this as you get the investment tax credit, which is uneconomic, is words on paper only. The money is going to flow where the economic opportunity arises. We've already seen that over the last handful of years, when more and more direct capture technologies are being developed, projects are being implemented in the United States and not as much in Canada, where we have sunk a lot of money, both public and private, into the development of this technology.
Would you please assure this committee that you're not just dancing against the wind here, but you're actually going to implement an investment tax credit where we will get some economic benefit in Canada?