What is proposed there is a tax credit that targets 50% of the incremental cost of natural gas heavy vehicles. The rationale, really, here is twofold. One, we have a sector of the economy that's totally dependent on one energy source, which is crude oil-based fuels, except for about 2%. There's a little bit of alternative fuels, but not much.
Second is the potential for significant emissions reductions. While passenger vehicles get a lot of attention, the reality in Canada is that 4% of the vehicles account for a third of our carbon emissions. It's a very difficult part of the economy to get at. We are a technology leader in Canada. We supply the engine technologies from two of our companies based in British Columbia. We supply them to more than 15 different bus and truck manufacturers already.
So we have an early lead. What the proposed measure here is intended to do is to really get these technologies into the market as vehicles turn on their normal cycle and replace them with a lower emission.
The other dimension to this, of course, is that this is a cost-effective fuel. For truckers who operate in a regional corridor, for instance, they could reduce their annual fuel cost by about $12,000 a year.
So it's really to help facilitate access for the fuel into a new market that's dominated by a relatively high-emission fuel.