I would agree that if the markets were completely separate, the cost of doing business in the energy sector would be far higher in Canada. If we allow fluidity between the two markets, the cost of the permits would automatically balance out in the two countries. Therefore, the reduction in emissions will take place where it is least costly. For example, if an oil company needs to reduce emissions and buy permits, it can allow a company whose cost of reductions is lower in Canada to make this reduction and pay a premium to do so. From an economic standpoint, that is the principle we have.
Once again, I repeat that this would be possible only if we allow fluidity between the two markets, so that permits can be exchanged. As Professor Plourde said earlier, if the targets vary from one province to another in Canada, we will have to allow companies to exchange permits.