I call this meeting to order.
This is meeting 70 of the Standing Committee on Finance. Our orders of the day, pursuant to Standing Order 108(2), are for a study of the impact of low oil prices on the Canadian economy. This is our first meeting on this topic.
I want to welcome our witnesses here in Ottawa. We're also expecting a witness in Edmonton for this first panel.
From the Canadian Association of Petroleum Producers, we have the president and CEO, Mr. Tim McMillan. From the Canadian Fuels Association, we have the president and CEO, Mr. Peter Boag. From Encana Corporation, we have Mr. Richard Dunn, vice-president. From Suncor Energy Inc., we have the executive vice-president, Mr. Steve Reynish. Welcome to the committee everyone.
We are expecting Gil McGowan, the president of the Alberta Federation of Labour, in Edmonton. Hopefully he will arrive in time for his presentation.
You each have five minutes maximum for your opening statement, and then we'll have questions from members.
We'll start with you, Mr. McMillan. Please begin.