Of course.
In terms of the energy transition, we have advantages in energy production. Quebec's hydroelectricity is one such example, and its costs are relatively low. This gives us a natural advantage and makes us a credible player in terms of clean energy. However, we mustn't rest on our laurels, because the rapid drop in the cost of solar and wind energy will make it increasingly difficult for the hydroelectricity sector to remain competitive. We need to dramatically increase our production of clean energy—wind and solar energy in particular—not only in Quebec, but across Canada. That's just one example.
There is also a supply chain for solar and wind energy production equipment to be used in the energy transition and the development of the electricity network.
Similarly, the United States is historically much more productive, and capable of generating productivity gains and economies of scale, even without government assistance. Added to that is serious government assistance in the form of tax credits. It would be very difficult for Canada to compete unless the government responds, and unless we target sectors where we have comparative advantages.
One such advantage is in battery recycling. Demand for electric vehicle batteries will largely exceed production capacity. That will create a huge demand for recycled batteries, which could become an advantage for Canada if it positions itself as a hub in this area. This would perhaps be an intelligent way of responding to the challenges of the Inflation Reduction Act and also a means of entering into the North American value chains that will be generated.