I have a couple of comments. First, recognizing that we are a very global industry, you are going to have to look at what that does to an investment dollar here in Canada versus other parts of the world that are big producers. Secondly, you have to look at the issue of caps in our sector versus other caps in other parts of the economy where the investment dollar is going to flow. But I think, thirdly, the biggest issue, from our point of view, is how quickly can you make some of these changes happen, and what is the net benefit?
A quick way to achieve reductions, and hard reductions, in our sector would be, for example, to do all the upgrading of heavy oil in the United States. That is the most energy-intensive part of our business. It would certainly reduce our emissions here in Canada. On the other hand, if the Chinese or the Americans are doing the upgrading, it does nothing from a global point of view.
These are not simple tactics and they're not simple issues. We have put forward a proposal to this government and previous governments on how to accommodate that.