I agree with everything Mr. Marushack said about the fiscal regime. I also agree with him about the labour, except for one thing, and that is that I think it's an immediate problem. I don't think this is a solved problem that spans 50 years. I think you're going to see inflation within this business creep up.
You mentioned that at the dip, the unemployment rate was 8% in Alberta. Now it's down to 5.5% to 6%, but that's for the province as a whole. Within this business, I would suggest to you, the unemployment rate is about 0%. In the next month or two we will probably be above 155,000 workers in the oil and gas business, which was where we were when it peaked in early 2008.
So I think the people issue is acute. The thing that happens is that wages start going up, services start going up, and they're sticky on the way down. So we progressively price ourselves out of the global market. What I mean by that is we become the highest-cost producer of oil in the world and we become progressively more vulnerable to any weakness in price, any volatility in price.
So to me, it's a much more urgent issue. I personally am a believer in figuring out immigration, intelligent immigration policies that are streamlined to be able to ward off the potential inflationary problems that we saw between 2005 and 2008.