Thank you.
Dr. Collins, we had testimony from Chris Bloomer, head of the Canadian Energy Pipeline Association. He described Canada's regulatory environment as “toxic”—a very definitive word. A toxin is a poison.
As a result of the environment we have now, foreign direct investment in Canada has been estimated as going from $71.5 billion in 2013 down 56% to $31.5 billion in 2017. As well, a 2017 study ranked Canada 16th out of 17 countries for business investment, compared with eighth place for the period 2009 to 2014. I'll leave it to people to look at their calendars to realize who was in government at that time.
Do you see this decline, Dr. Collins, in investor confidence continuing or even accelerating if the IAA is passed and implemented?