At some level, it might promote some innovation. We have seen that the oil and gas sector has cut emissions. The concern is that increasing it to $130 on an effective tonne will do very little to cut emissions, certainly in oil and gas, and in electricity in particular. It will just get passed on to the consumers, or it will be lost production. Again, the carbon leakage will happen somewhere else.
For electricity, there was a carbon price in Alberta. I interviewed them and wrote a paper. Any additional industrial carbon price they expect on electricity in Alberta, for example, will be completely passed on to the consumer. It would have to be $170 or $200 per tonne to stimulate new investment, for example, in a different technology.