I'll take it. Thank you, Charlie.
I'll start with something that we can all agree with, which is that we need to go much faster in this energy transition and we're going to need more investment to do that.
Now, for some facts, last year in the oil and gas industry the profits for the five largest companies alone were $38 billion. In the price at the pump for Canadians across the country, the carbon tax went up by two cents last year, and those profits went up 18¢. We know that this government has already put in place a windfall tax on excess profits. They call it the Canada recovery dividend. They did that for banks and insurance companies. The PBO has costed it out. We could raise $4.4 billion to reinvest in proven climate solutions.
I'd like to turn to you, Mr. Jovanovic, for your reflections on what could be done if we were to use that $4.4 billion and invest that in proven climate solutions, whether that's retrofitting homes or transit. Could you reflect on how much quicker we could go if we had a windfall tax on the profits of oil and gas companies in this country?