The oil sands producer could decide to do nothing different from business as usual in their own plant or activity in terms of reducing emissions and instead subsidize. In other words, instead of government subsidizing, the oil sands producer would subsidize reduction actions by other parties in the non-regulated part of the economy. Or they could pay other industrial actors to make reductions as a way of getting the credits they need.
I would say that's not necessarily a bad thing. Where it's most expensive to reduce emissions in the country, you don't want it to happen. You want it to happen where it's cheapest, and so you do try to have trading mechanisms.
The challenge here is that the regulated cap is on part of the economy, but actually they have an opportunity to go to the unregulated part of the economy. That's the part of the economy where we don't have that constraint of a price on the atmosphere. That's what I'm worried about. I hope that's clear. And that would make it hard to achieve our G8 targets.