Thank you, Mr. Chair.
I have a quick question for Mr. Beugin.
Figures show that, during the pandemic, $30.9 billion in public funds has been directed to oil and gas in Canada. According to Oil Change International, Export Development Canada, or EDC, provides $14 billion a year solely for oil and gas. When you add up all the subsidies provided to the oil and gas sector through EDC and all other federal programming, the total for 2018 is $78 billion.
The new technologies—carbon capture and storage—are not yet widely used. Some engineers even argue that the technologies are not sufficiently developed. Massive amounts of money are needed simply to get by.
Without federal government support, how is it possible to ensure that the oil and gas sector produces less emissions? If the sector needed support before, it's going to need even more support after.
Allow me to draw an analogy. Subsidizing oil and gas to achieve environmental gains is like using a Lada to race in the Formula 1.
My question is very simple. Can a low-carbon oil and gas sector be viable?