Thank you very much, Mr. Chair.
My question takes us back a little in history, but also as we head to the future. For our guests here, for quite a number of years industry complained. In fact, it was 13 long years they complained that they weren't getting direction in this whole area. They wanted direction, but they weren't getting it, so there was no action really taken over that period of time.
Then at Bali, just of late, under section 71, there was a notice to industry that they were going to be regulated, that they would have to report their GHGs. Those targets for final emissions will be coming out within the year ahead here, so that is substantial, at least when we make a comparison with what's been done in the past.
In particular, going back to the benchmarks from Kyoto, in four years from now, under Kyoto, we were supposed to be about 6% below 1990 levels. I'd like you to respond to this for a moment. We would probably be having a rather different discussion at this point if we had gotten with it a number of years ago, if we'd been moving on this, but this wasn't occurring.
Can you give me a different sense of what might have been as compared to where we're at now--actually changing the economy, signals to the industry and the effect on the economy? How different might it have been compared to where we're at now and the very difficult kind of task we have?
There are concrete measures being taken in terms of establishing hard targets. Industry is on notice for the first time. They have some policy direction they never had before.
Who wants to respond first?