We'll come back to order for the second round of hearings this afternoon. As I indicated at the beginning, pursuant to Standing Order 108(2) we're doing pre-budget consultations for budget 2016.
I welcome the witnesses here, and thank you for coming on short notice. I would also indicate that we hope you can limit your presentations to five minutes. If you go much beyond that, I will have to cut you off. Also, the translators have given us an indication that some people are talking too fast in order to get their words in within five minutes, so you'll have to talk at a pace that they can translate.
Starting with the Canadian Association of Petroleum Producers, Mr. Ferguson, welcome, and thank you.