On the race to the bottom kind of scenario, our feeling is that if you sell off your non-renewable resources cheaply, they're gone. You'll never get back any barrel of oil that you sell at a low rate. You should set your royalties at a proper rate for the citizens who own the resources. Companies are there and are able to develop the resources and bring them to market, which of course is a critical role. But they shouldn't be able to do it without properly compensating the resource owners.
In our paper there is an example in Newfoundland. At the time, Danny Williams wanted a certain resource structure in place so he put it in. The companies left and then came back 17 months later at the rate he had put in. People like to invest here in Canada. It's stable and we have a strong workforce, in spite of a number of issues with capacity in the north. But there are reasons to invest here, so we don't feel we should sell our resources off cheaply just based on the fear that companies might jump jurisdictions. If every jurisdiction keeps lowering them, where does that leave the citizens of Canada?