Thank you very much, and thanks to all the witnesses for your time today.
I'll start with a question for Mr. Sawyer. The Conservatives like to interchange the words “production cap” and “emissions cap” in conversation, and we just heard some of that today. Can you please define for us the difference between a production cap and an emissions cap, and the role of policy in all of this, as we all agree we're striving towards actually driving emissions down?
I'll leave it there for my first question, thank you.