My hon. colleague says bravo and we all applaud the strength of the Canadian economy. Put two economists in a room and we will probably get three opinions. It is sort of the same with politicians.
Many of the assumptions are necessarily unknowable, particularly with those new technologies that are coming on stream.
In summary, climate change appears to be on us. The problem is that Kyoto may not do what Canadians expect it to do, namely, to reduce smog. It may reduce conditions that create smog but it will not necessarily reduce smog. This is an economic treaty as much as it is an environmental treaty. There needs to be a mixture of incentives, credits and tax concerns.
The matter of the law of unintended consequences prevails in all matters. It is very hard to produce a clear and precise plan because so many of the variables are unknown. There is a tremendous upside to this treaty.
I think the Prime Minister has done us a great favour and has shown terrific political courage in putting this issue into the Speech from the Throne. If he had not set this target, I do not think any of us would be here today debating the matter.