Thank you, Mr. Chair. My thanks to the witnesses.
I'll start with a point of order, which I think is part of the problem. It's important to establish—and important to keep in mind as we're working through this process—that there's an important link between climate change and pollution. Mr. Marshall made the point with respect to smog as an example of how global warming impacts issues. I do think it was very pertinent to what we're dealing with.
I'm wondering if I could start with you, Mr. Marshall. There were a couple of areas you didn't touch upon that other committee members have brought up. You listed the establishment of firm targets that are based on overall emissions, not intensity. You mentioned establishing a cap and trade system and utilizing international credits through mechanisms such as the clean development mechanism.
I'm wondering if you could comment on the importance and utility, in your mind, of subsidies; on federal investment in research and development; and also on, as others have suggested, a tax on greenhouse gas emissions—perhaps a revenue-neutral tax—and the importance and utility of those items.