Mr. Chairman, honourable members, I completely concur. It will gut the capacity to finance these projects. Banks will not take litigation and appeal risk because then they have nothing.
In our situation, there are literally decades of detailed regulations, detailed rules, standards, expert witnesses, engineers, environmental people, cultural resource technicians, people who know whether this is a teepee ring or whether it's a pile of rocks. There is an extremely entrenched ability and knowledge base to be able to assess what is an acceptable impact and what is not. And that is ultimately what it is about. When you have 1% or 2% growth rates in an economy, you have impacts, and this is about picking impacts that are acceptable to our society. Ultimately my experience was we had a whole coterie, a whole parade, of deeply expert people there who were able to do that, and in particular deeply seasoned regulators who were able to separate the wheat from the chaff, as it were, and come up with a balanced answer.
So if you take that away, I think it just stops. I think projects stop.