Mr. Northey, you were quite proud of the report that you and your colleagues produced, but I want to look at some testimony that we received not that long ago from the Canadian Association of Petroleum Producers. CAPP and the investment community today see very little in Bill C-69 that will improve investment. I would say we're at a very high risk of leakage of carbon outside of Canada, so the resource won't be produced in Canada but will likely be produced in a jurisdiction with no carbon policy.
Chris Bloomer, from the Canadian Energy Pipeline Association, said, “New projects are grinding to a halt and we have major problems as a sector and as a country accessing new markets for our energy products to the world.” He further said, “In short, we cannot see that timelines will improve; we expect them to be longer.” Mr. Bloomer goes on to say, “If the goal is to curtail oil and gas production and to have no more pipelines built, this legislation may have hit the mark.”
In a legal review by Osler and company, written about in The Lawyer's Daily—you can tell I don't have a life, because I read The Lawyer's Daily—it was quoted by the author, “there is nothing in these legislative proposals that suggests future assessments [of designated projects] will be in any way streamlined, more efficient, or more effective”, and that's compared to your review of the legislation.
Are these people all wrong?