Let me simply begin by going back to the notice of intent to regulate for Bill C-30. It is stated under targets for GHGs, “Short-term (2010-2015)”, that it would be based on emissions intensity and not until 2020 to 2025 would there be a switch from intensity targets to absolute targets. It's what the legislation would support.
I'm hearing from all the witnesses that you're there, and maybe we just have a lucky bunch of witnesses here. In fact, if we were to ask you to accept the Kyoto target in absolute terms from 2008 to 2012, you could meet it. Is there anybody at the table who couldn't meet it?
You're all there.You're past the intensity argument. You can meet your Kyoto targets. One thing that comes through is that you're already ahead of where you ought to be.
Let me ask you this question. Is it true that the sooner we establish a hard cap system for everybody and a domestic trading system that integrates with other systems and allows you to trade the excess, the more it would be to your economic advantage, because right now you can't sell the stuff? Is that a fair comment?