Yes, thank you.
I'll keep my video off just to improve the quality.
In terms of being an investor, there are two types of investment primarily. One is on the research and innovation side, and then one's on the straight-up subsidy side that nobody really likes, but at the end of the day might be necessary for a temporary period of time.
On the R and D side, a simple analogy to the oil and gas sector is AOSTRA, which, in Alberta, the government has pumped hundreds of millions of dollars into. It's academic research with industry. It develops technology. It's where SAGD came from. It allows us to pump bitumen out of the ground in ways we never knew 30 years ago.
That kind of innovation creates an industry, makes it marketable and possible.
The same thing is needed in the hydrogen battery electrification, energy storage integration. NRCan's doing a pretty good job of that already, federally. There do need to be some additional investments in green hydrogen integration with energy storage, but dotting the i's and crossing the t's, the types of projects.... The reality is, we just need to continue investing through NRCan into that sector for the research and development component.
The other side is the subsidies. I'm not a fan of subsidies. I've drunk the Kool-Aid. I drive a Tesla. I believe in electrification, but I don't believe in subsidies for individuals. I do believe in subsidies, as a technologist, for public fleets. That's because of the tax efficiency issue.
The subsidies we're talking about here are specifically to offset the differential price of green hydrogen over diesel for transit buses, where public transit is already subsidized by municipal and public users, and it's part of our social fabric. As a result of that, it's tax-efficient, in the sense that it would be a time-limited, five-year investment in a publicly subsidized, social welfare, public fleet. That is very different from general subsidies for electric car drivers or any other kind of fleet. Those subsidies would lead to the gateway opening to price parity for the private sector, freight and truckers who wouldn't need those subsidies, but would benefit from price parity in the marketplace.
Those are the two types of investments.