Thank you very much.
This has been very interesting testimony. It will be very helpful, I think, for our pre-budget report.
I'll go to you first, Mr. Biggs, just so that I understand what you said in your presentation.
You talked about the pipeline purchase. I think we've been hearing a lot of that across the country. People are concerned about the $15-billion cost. You also raised the overall economic cost of climate change. If I got the figures correctly, you said that moving from a 1.5° increase in global temperatures to 1.8° would cost the Canadian economy $150 billion a year. That's 10% of GDP. Is that correct in terms of what the economic impacts are of climate change?