Mr. Chair, the question of energy security, and potentially reliability, is one that requires long-term investments. One of the asks we would have of this committee and this government, as you're considering developing policy instruments related to emissions caps, is to take a long-term view to provide industry with as much certainty as possible, because the very long lead time for some of these investments—capital costs for some of these investments—is very high.
Obviously, as you stated, you can't create LNG terminals overnight. You can't build pipelines overnight. These things take many years to put in place. However, as the world considers the role of energy security and energy reliability as we go forward, even in the context of the global climate crisis, I think it is important that this government consider the importance of providing policy stability and certainty as it considers these regulations.
There's another component of that too, if I may add, which is the consideration of how these policies interplay with each other. Our recommendation is that any policy that's put in place is consistent with the Paris Agreement and with existing policies that are already in place. It would be, I think, quite helpful to see a comprehensive study of all the climate policies already in place in Canada at the federal and provincial level to actually see how they currently interact with each other.