I wouldn't say that there's a plan, but there are some positive signs.
On the one hand, I see that there are policies to support green energy development, and other policies to support green renovation. On the other hand, there is a policy to support expanding the hydrocarbon sector in Canada. This takes the form of the CCUS tax credit for carbon capture, utilization and storage. Basically, the purpose of the measure is to protect the Canadian oil sector from climate policies in other countries.
Other countries are going to say that they don't want anything to do with a barrel of oil that has such high levels of carbon emissions. What we are going to do is spend money on until 2030 to reduce GHG emissions in that barrel of oil, while not reducing emissions overall. What we're talking about here is an expanding sector.
So I don't see a plan. What's needed is a plan that would aim at carbon neutrality in 2050 by capping oil and gas production and transforming the regional economies that depend on it. As we know, the situation is particularly critical in Newfoundland, with 50% of investment going to the oil sector. There is therefore a lot of work to be done for that particular economy. On the other hand, wind power has enormous potential.
Not only that, but Alberta's economy is already stronger and more diverse, although it needs support. Serious support and a predictable downward ceiling on production are needed, in my view. That's exactly what we did with coal. In Quebec, we had asbestos. At some point, you have to shut things down.