Madam Speaker, earlier I was telling a Conservative member that I was rather surprised by the connection being made between the carbon tax and food inflation. However, a connection can be made with the cost of energy. High energy costs can, in fact, cause inflation. A proper analysis of energy costs will show that, since 2021, oil companies have drastically increased their refining margins to the point where they made $131 billion in profits from 2021 to 2024. My Conservative colleagues seem to think that it is still not enough.
I would like to know whether my colleague agrees with me that, instead of ending standards that are essential to the energy transition, we should ask the greedy oil companies to do their part by reducing their margins so that we can reduce inflation.