Madam Speaker, currently, when big emitters pay the carbon tax, the money is put aside and is used to finance green projects in the province where the tax was collected. If oil companies do not propose any green projects, they lose that money at the end of the year. This approach encourages them to move quickly.
With Bill C-47, the money would not be lost at the end of the year. Oil companies would keep the money for future projects, which would give them no incentive to hurry to implement green projects that would reduce greenhouse gas emissions.
What does my colleague think about that?