Madam Speaker, I appreciate it every time my colleague gets up to speak in the House of Commons. However, in 2018, an economist from Yale named William Nordhaus came out with his concept of a carbon tax. At that point in time, his concept was for $44 per tonne, far from the $170 per tonne that Canada is moving towards here very quickly. He also said that it had to be efficient, because it is the only mechanism to apply across the economy to make things balanced. With the current government, it has a carbon tax. Now it has a clean fuel standard and clean electricity regulations. There are all kinds of other taxes it is putting on top of this, and the oil industry in Canada is the only industry that pays royalties to the federal government and the provincial governments, mostly. This is a problem.
There are significant regulations and additional taxes being layered on that are far in excess of what any academic, economist or financial person has ever seen. Can my colleague square this with me in terms of how he sees a carbon tax actually working?