Thank you, Madam Chair, and thank you to our guests for being here today.
Your Worship, you've been fairly outspoken on the drilling moratorium, for sure. This bill has two pieces to it. It allows for more drilling moratoriums. We've heard that there's been a limited amount of investment going on in the Beaufort Sea area, so putting in a drilling moratorium hasn't really had any effect because there's been no activity up there. Could you just talk a bit about the hope that is taken away when a drilling moratorium is put in place?
What is the value of the natural gas and oil resource up in that area? Could you also comment on what the Americans are doing just a few hundred kilometres away?