Mr. Elgie, you mentioned in your opening remarks that the cost to industry of the lack of environmental confidence, or confidence in the industry in general, is $10 to $15 billion
I don't think anybody in this room doubts or would disagree with the following statement, which I truly believe, that our oil and gas sector is one of the most innovative in the world. I'm not trying to take that away from that sector at all.
As we move toward policy that's more centred around the total public confidence and a greener approach, taking into consideration that I don't believe—I think the graphs showed it very well—in this idea that we need to make a conscious choice of one versus the other, we're going to look for a collaborative approach to meeting our greenhouse gas emissions over the next 20, 40, 50 years. A viable oil and gas sector that utilizes innovations and technology and a greener approach as we move forward is going to give us a competitive advantage over other jurisdictions that choose to remain with older types of production.
My question, first, is where do you think the government should be within that process? Second, do you feel that private companies can play a collaborative role in that process with government, recognizing that the majority of large producers have said that it would be to their advantage to have a price on carbon?