First and foremost, most oil and gas companies operating around the world do believe in carbon pricing, as long as it's done in a fair and even way and we don't disproportionately disaffect ourselves in the search for capital. I think that sends the appropriate price signal from the ground up. That's number one.
Number two, I think it's inside the regulations themselves. We have a world-class set of regulators here who know these facilities and these fields at the asset level. They can stand and look at the framework of regulation that's been in place for effectively 30 years and is constantly evolving, even with the complexity that's required, and look at offshore fields and make sure we get the best of them. We look at their uptime. We look at their power demands, because the electricity on a platform is maybe 60% to 70% of the carbon emissions. We look to do things more efficiently. We look to modernize. These are constant and incremental things that are already in place and are already consistent with not just global best practice but Canadian best practice.
I think carbon pricing as a whole is something the industry is generally in support of, but maybe it's about the specific actions of the regulator and the give-and-take of how we execute these projects on a technical level. They have revealed, as I mentioned, a 50% reduction in emissions in the span of seven or eight years for our offshore fields.