Thank you. I appreciate your comments.
It seems to me that production tax credits pose an especially challenging competitiveness issue for Canada, especially for the development of projects like hydrogen, critical minerals and manufacturing.
On the issue of permitting reform, since you raised it, of course the U.S. IRA bill as well as their debt ceiling bill took very aggressive actions on reducing the permitting and regulatory time frame. Their debt ceiling bill has a target for under two years. The IRA obviously wants to pursue permitting timeline reductions. This seems to me to be the low-hanging fruit with which Canada should take full control of our own situation to be able to compete, rather than try to chase the U.S. down a dollar-for-dollar subsidy spiral.
The trouble for Canada, of course, is that it takes up to 25 years to get a mine built. The disaster for Canada is already demonstrated in terms of LNG. The U.S. built seven LNG projects and approved 20 more in the same timeline that we approved only three, with one actually being constructed.
Can you give any concrete details in terms of timelines under consideration for those assessment reforms? When will Canadians and all of us know what the intended timeline reductions are?