In 2021, when the project was first announced, the CEO of Dow made a very public declaration about how important it was to have a market-based carbon trading regime. He used the opportunity to actually call on the United States to create a similar regime there.
For a net-zero facility, an escalating price on carbon is obviously another tangible asset we can sell to make the business more profitable.
In Alberta, there are going to be a lot of individual companies that will have an obligation either under the GGPPA or the Alberta TIER system. These carbon credits have a value, so as the price increases, that is more capital that can be generated to justify these very significant investments.
I will point out that, at this time, these investments don't exactly pencil, which means we are doing them because they are the right thing to do, but there is no intrinsic value in the product that we can see returning to our investors. Having the price in the federal backstop is something that we can build directly into our economic model.