Thank you. I will try to keep this short.
One of my colleagues down the way asked a question about carbon pricing earlier. I think this is a very topical and interesting question, because Canada is a signatory to the Paris Agreement, which requires us to do very specific things.
I'm curious if your organizations, first of all, support upholding our international commitment in the Paris Agreement.
Second, if you do support it, which I hope you do, how would you see the government better approach the question of how we drive down emissions and meet those reductions?
There are only a few ways you can get there—through pricing, through regulations or through incentives.
I'm guessing, based on your comments about the ITCs, the tax credits, that you prefer incentives. All the modelling I've seen shows that it's one of the most expensive ways to drive down emissions on a per tonne basis. The United States has invested very heavily in that, but they're also running massive deficits.
What's the right mix when it comes to pricing regulations and incentives, in your view, to meet the Paris accord?