Mr. Speaker, I would like to thank my hon. colleague for his question and his important work as part of the Standing Committee on Environment and Sustainable Development to get these important amendments passed.
Absolutely, the IEA report is an eye-opener. It is a report the Government of Canada asked the IEA to put together, along with a number of other nations. It makes some very important conclusions on the rate and speed of the transition we are already experiencing today. As my colleague mentioned, after this year there would not be a need for new exploration or new production going forward, which is going to cause some major changes in the way that energy is produced all around the world, including in Canada. That is something we need to take into account.
One of the things I mentioned in my speech earlier today was hydrogen, which could very much be a fuel of the future for some of the hard-to-abate areas I mentioned. Blue hydrogen and green hydrogen offer opportunities and are part of the picture of what our energy sector is going to look like into the future.