Absolutely. Let me share with you an example.
Alberta has a major chemical-producing sector that had no new investments for more than two decades. The NDP government introduced 500 million dollars' worth of tax credits. It was a competitive process. They selected two, with over seven million dollars' worth of proposed investments, but here's the thing: They had 26 applicants and they had to turn away more than $40 billion in investment because they had to pick winners and losers.
In Alberta, the government eventually moved to the U.S. state-style approach, which is, “Here are the criteria, and if you meet these criteria, you qualify for these incentives.”
In Alberta, our sector now qualifies, if you have the right investment, for 12% to 15% of the capital cost of the project. Suddenly, now I'm here before you telling you that we have 15 projects worth $30 billion to $40 billion of proposed activity.
That's the illustration of the difference between saying, “We have some money, so make an application. It depends on the government of the day and it depends on whether you're on the naughty list. We don't know the criteria, so you might win or you might lose” and saying, as the U.S. does, “It's available to everybody; bring your capital. We want your capital”.
It's pretty clear.