Dr. Quick, you talked about the mandate of your organization being education in science and energy, with the key theme of technology, innovation, and energy sustainability.
I just came from a breakfast this morning with Dr. Steve Larter, the Canada research chair in petroleum geology at the University of Calgary and the scientific director of the networks of centres of excellence in Canada for carbon management. He was saying—I mean, this is not directly about aviation, but it's about transportation and transportation fuels—that our oil and gas industry has low innovation and investment compared to other sectors. He was also saying there hasn't been a revolutionary new innovation since the steam method of separating oil, the SAGD method. His view is that the biotechnological revolution will be a way that we can reduce greenhouse gases and achieve some of these sustainability goals—reduce greenhouse gases by half—in our transportation fuels.
His comment is that industry won't drive these innovation investments unless public policy supports that. I think key, in his view, is that we lack proper carbon pricing to be able to drive industry to move to innovation to decarbonize our economy and our fuels, including transportation.
I just wondered if you had any comments on the concept of carbon pricing in terms of the driving of innovation—with the caveat that I understand that aviation fuels are the higher-octane fuels and are not as amenable to things like natural gas. But you did talk about bioenergy yourself.
Can you give me some thoughts on that?