Finance committee  I have a few other things I've learned along the journey here. There are ways you can manage through that. Hydrogen is tricky to store. It's a very light element, and in heavy air pressure it takes a lot of energy to liquefy it and so on. I've picked up along the way that if you are making hydrogen, for example, and then green ammonia, ammonia can actually be used quite effectively in a combustion turbine.

Finance committee  I can begin. I'll speak a bit about what is anecdotal around this. For example, there's a pipeline that was built from Nova Scotia out to the Sable fields. It has all of the types of issues that you would think of. I heard stories that, when they were doing the remediation, the fishermen actually didn't want it disturbed, because it created a great habitat for fishing, etc.

Finance committee  I think that's a fair comment. I'm probably a bit out of my field of expertise on that. I'm just sharing with you what I've heard. What I can tell you is that there is a very large industry of offshore wind in Europe, where you could go and get data. I'd be happy to go and get data.

Finance committee  To be clear, we support the industry. We're focusing on onshore first. I believe in doing things systematically, but that's a fair point.

Finance committee  There's one point I want to make that I don't think is well understood. When you put wind onto our system initially, it's very easy for that to be fully utilized. As you go deeper into the decarbonization and wind becomes 50%, because it's intermittent you end up in a situation in which wind energy is curtailed or not used.

Finance committee  It's going to be used for a variety. It will be used for that. It will be used for transport. You really want it to be used for everything. The other thing I would say is that by having the investment, we're seeing new longer-duration batteries. All of a sudden, there's an economic use for them.

Finance committee  At the end of the day, I just want to see some skin in the game from Canada. We put our skin in the game, so over time we'll bring in private capital to support what we're doing...and my own money. I've been doing private equity investing for 20-odd years. I know how to raise capital and all of the rest of it, but getting to the conditions where you have an FID—that is, the ITC is defined—is important.

Finance committee  Absolutely.

Finance committee  It's incredibly important. One of the things we made a statement about in June—that we made a real point about—was having three first nations who actually own clear water be actively in support. That was important. I just want to send a message around. Sitting here today, I will say that that's absolutely important for the long term.

Finance committee  Mr. Chair and honourable members of the committee, thanks for the time today. I would say as a general comment that Canada has made the right statements and has sent the right messages to the world, and the world is paying attention. Without going into the details, it's really a matter of acting and timing.