Thank you, Madam Chair.
Thank you, Mr. Keating, for coming here and being a witness.
We're in a different area here. We're at a crossroads. It's been quite a while since I've actually talked about this in terms of global trade, economics and geopolitics. Canada has the ambition of becoming an energy superpower, but not really mentioning how. Right now, we're celebrating the fact that there will be more oil being sent to the United States in a pipeline. We sell them the majority of our oil already.
Energy Newfoundland and Labrador said that the proposed oil and gas emissions cap would have a chilling effect on investment decisions. Could you elaborate on how industrial carbon pricing and measures like the emission caps are affecting the economic investment outlook and long-term viability of offshore energy production in Newfoundland and Labrador? Just for a little bit of context, I had the same issue in Kitimat, B.C., with a $40-billion LNG project, which is basically under the same umbrella and under the same conditions.