Hon. Yonah Martin (Deputy Leader of the Opposition): Minister, oil and gas industry proponents have been asking for a 75% investment tax credit from the federal government in order to spur investment in carbon capture and storage technologies, which would reduce upfront capital costs involved in constructing this critical technology. However, your government’s announcement fell short, promising only a 50% tax credit. Many in the industry have stated that the size of the credit means that many of these planned projects will not go forward.

Minister, given the impact this technology could have on emissions reduction, does it concern you that many of these projects may now not go ahead?