Okay.
Really what I wanted to highlight was the importance of innovation in the energy sector, so I'll just talk about that.
Our legacy in the energy sector has led to Alberta businesses being the pioneers of sustainable energy products, and decarbonization technology is critical to achieving Canada's ambitious climate goals. What we're talking about and looking for is regulatory stability and financial predictability, because this is actually germane to the prosperity of the national economy.
The investment tax credits have been welcomed as an incentive for investment, but there continues to be a lack of clarity on the specifics of these credits, coupled with concerns over the long-term stability and direction of climate policy in Canada. This has meant that capital remains on the sidelines or goes south to take advantage of the IRA, as investors weigh the risks of continued investments in the energy sector.
I would highlight the decision by Carbon Engineering, which was pioneering direct-air capture technology, which was started at the University of Calgary, to develop its inaugural commercial facility in the United States, as one such example. The IRA made the numbers work a little differently than they would have in Canada.
The other thing that we really wanted to emphasize is the importance of the implementation of carbon contracts for difference so that companies can actually rely on a floor price for carbon and be able to go and finance the projects they're interested in financing.
The rest of my submission was about the incentives and the lack of clarity.