Thank you.
What was interesting in listening to the witnesses was different ideas about the structure of what goes into an oil and gas cap.
If I could start with Clean Prosperity, there was a focus on direct pricing as opposed to cap and trade. In that conversation, though, comes up the issue about what the impact is on international trade for our products.
What's the role for border carbon adjustments as part of this, and what should we be thinking about when we're designing it, if we're focusing on direct pricing as our system?