Thank you, Mr. Weiler. That's a great question.
I want to preface this by saying that the fact that we're advocating for one doesn't mean we're not advocating for others. As I said, I think our transition will be full of a bunch of different, innovative technologies to get us to where we have to be as a nation, and ultimately to get ourselves to net zero.
The reason we push for biofuels in particular is that biofuels offer a way to use all of our existing infrastructure. The diesel trucks that are out there, the diesel tanks that are out there and the diesel stations that are out there can all use a biofuel blend. It's a very simple and ultimately cost-effective way per tonne to get megatonnes of emissions...just because we use so much fuel.
The other benefit of a blender's credit is that if you make the cost of the end product cheaper, then all of the other pieces of the chain fall into place. You can get financing for a plant to build it, because they know there's offtake for their product in a profitable way. Low-cost financing for green alternatives, especially now, abounds.
It's one piece of the puzzle. It's something we are focused on, know well and that we've seen work. The U.S. has a blender's credit. It functions for both producers and discretionary blenders and for upstream oil and gas players, depending on who wants to use it. It's the reason their average blend level for biofuel is about twice what it is in Canada right now.