Let's all use common sense. Maybe that will move us along a little bit.
Mr. Minister, I told you earlier that I had some doubts about your willingness to contribute to the energy transition through this bill. I'll tell you why. There have been tax credits for carbon capture and storage strategies, as well as for clean hydrogen since 2023, and there will be one for clean electricity in 2024.
Earlier, I asked you whether Newfoundland and Labrador could already develop offshore wind projects. You told me that the bill had to be passed first. However, in Newfoundland and Labrador's roadmap, in 2023, which was last year, there was already talk about producing five gigawatts by 2025. That's going to take a lot of money. If the federal government supports private projects, it's going to take a lot of money. If we want to turn those five gigawatts into clean hydrogen, that's going to take a lot of money too.
Aren't your strategies contradictory? On the one hand, you're spending money to make clean oil using carbon capture and storage, which seems to me like a passing fad, and on the other hand, you are going to have fairly expensive technologies that will produce a significant amount of electricity. Five gigawatts is huge. It seems to me that there's a dichotomy between the investments you'll have to make in fossil fuels, on the one hand, and the investments you'll have to make in clean energy, on the other.
Shouldn't you just set aside the folly of carbon capture and storage?