Carbon pricing is different from a carbon tax. A carbon tax is a tax. For our industry, science....
In nitrogen, for example, you have to heat the air to pull the nitrogen out of the air. You use primarily natural gas; then out goes the carbon that comes with that. We're the best in class already.
I'll use an analogy. I visited a farm about a month ago, and this farmer is doing everything right. He has zero tillage and he reuses and refurbishes his equipment. He has a really low footprint. He's best in class in environmental use, but he will have to pay more money because he started his best-in-class environmental application in the 1990s, but the benchmark is at 2013. If the benchmark's there and he's already really low, he can't get lower.
Well, our industry is that way. We're the best in class. We've driven it down. It wasn't through just the goodness of our heart; it was because natural gas prices were really high, and they had to get down to the best possible application. That's one of the concerns. That's why we want to see an industry....
By and large some provinces are doing that, but look at our industry. Don't just do a blanket. We're not the oil and gas industry. We're a value-added product that the world needs. All plants need fertilizer. That's one of the other things.
There's another point I want to say. The Government of Saskatchewan says the industry is currently planning to invest approximately $12 billion by 2020.
I was at the International Fertilizer Association Conference in Moscow, and all the CEOs were there. This is a major industry that is going to invest about $190 billion over 10 years. They're looking at where they're going to invest for expansion or growth and they're trying to find places where there's certainty, so whatever we do, we have to have some sort of policy and regulatory certainty. I think that's what the previous speaker was talking about as well.
Uncertainty causes problems. We may look at a policy this year and move forward on it, and then four years later there's another review. These people are looking for 10 to 20 years. There's new a mine being developed by K+S, and they're very public about it in Saskatchewan. They've got a 20-, 30-, 40-year horizon when they're putting in a major mine, and I'd say it's a $6-billion investment.
Therefore, part of the themes coming out of your report would be how to put things in place so that there's certainty when people go around the country asking where to invest. How do we put it in place?