I spent a year living in California, and I was able to attend a variety of seminars and conferences at Stanford on carbon capture and storage, and there are two observations I made while being there. One was that the capital market, the financial system, has to be the funders of climate solutions generally, so the project finance principles, the fiduciary duty principles of investors, are well known in law. The first point is that the United States is trying to create a market mechanism for capital formation to manage carbon emissions.
Point two is that the United States doesn't hate industry. They want industry to be productive, and what we saw, in particular at the state level—states like North Dakota, Wyoming, Illinois, Louisiana, the industrial states that have sequestration opportunities—want those industries to stay in business; they don't want those industries to be phased out. At the state level, they try to support carbon capture as a means of keeping those jobs and industries alive and those facilities continuing to operate for the long term.