Without a doubt.
If any of you have studied basic economics, which I presume lots of you have, I think the Laffer curve is very real. When you look at the amount of personal tax that ultimately is imposed, there's a tipping point as to when that behavioural change....
In terms of the use of the phrase by Ms. Rudd about levelling off investment in the oil sands, as a proud Albertan, I'll take issue with that statement “levelling off”. How about a significant decline, which has resulted in significant job losses—over 100,000 jobs lost? That's not a levelling off of investment in the oil sands. That is a direct impact of regulation and policy implementation that loses jobs.
So, yes. The overall answer to your question is yes.