Thank you very much.
I come back to the notion that simplicity is the ultimate sophistication here, and that has to apply to our energy policy landscape if we're to have any hope of attracting enough investment to achieve our net zero by 2050 ambitions. We need to be able to attract investment, not actually have money leave this country to finance other countries' net-zero ambitions, which is what we are at risk of doing, and I would argue that is already happening.
Instead of layering more potential policies at both provincial and federal levels, we should be considering consolidating and simplifying the policies we have.
The proposed clean electricity regulations are an example of layering a carbon policy on top of an already complicated and opaque carbon policy, which is the Greenhouse Gas Pollution Pricing Act. I would ask you to ask yourselves why it is necessary to have two carbon policies stacked on top of each other, when we haven't given the base carbon pricing policy a chance to work. Why don't we just simplify the GGPPA, the Greenhouse Gas Pollution Pricing Act, harmonize it with the provinces, and make the markets transparent and allow them to work?
I would conclude by saying that it's really imperative we get greater transparency in our carbon markets. The federal Greenhouse Gas Pollution Pricing Act is governed by the CATS system. Recently I asked someone in my group to get a price history of carbon pricing. The answer we got back was, “Sorry, we can't give that to you.” What investor is going to be able to determine the volatility of carbon prices if the carbon trading prices are not available to analyze for volatility?
I'll be brief and end it there.