I'd like to express a slightly different point of view on the international trading system than what my colleagues here have expressed.
I'm part of a large international group, Mittal. We operate in 60 different countries, so we're seeing both sides of the equation. A lot of steel is produced in countries that are not signatories to the Kyoto accord and that have demonstrated very little, if any, interest in pursuing avenues like the ones we're committing to under Bill C-30. We're concerned that the simple conclusion that you can adopt an international trading system and buy your credit will simply overtax some industries, the steel industry, and just move the production elsewhere. It's very easy to offshore steel production, and it is a concern that is significant for our industry.
We'd rather see policies that encourage and foster reinvestment in technology in the country so we can further advance our own ability to achieve increasingly more difficult targets.