Mr. Thibeault, thank you for your question.
As I said, the turnover, the revenue of the industry, is about $100 billion per year. The investment rate is about $50 billion per year. Obviously that fluctuates some with things like prices.
You asked a question about subsidies. I think we probably have a fairly fundamental disagreement in view there. We do not view the industry as subsidized. Jack Mintz, probably Canada's leading independent academic authority on fiscal regimes, has looked at this very carefully and says that probably the all-in tax burden on the oil and gas industry is a little bit heavier than it is on the average industry in Canada.
We take the view that every industry has a fiscal regime; those fiscal regimes vary somewhat because of the nature of the industry. On occasion ours seems to be characterized as a subsidy regime, rather than a fiscal regime. Again, it's our view that it is a fiscal regime. We have deduction rates; we have rates at which we recover costs, as other industries do. In our view, that does not make it a subsidy.