Very quickly, the north has a wealth not just of natural gas, and you quoted natural gas prices, but of potential oil resources. What I quoted was the interest in oil in the shale. The shale is the source rock of the big Norman Wells oil field, which is producing still. There's a pipeline from Norman Wells for the oil down to Alberta. You do have that infrastructure if the shale play turns out to be very lucrative. You do have an oil pipeline. On the other hand, you don't have the other types of infrastructure, such as all-weather roads that can handle a lot of shipping of the materials needed, for instance, for the fracking technology.
I think some of your members have already pointed out that there's a small population and limited capacity. While they are very engaged and very interested in the benefits from that development, and they have extracted access and lucrative agreements with the potential explorers and developers, there are going to be some strains on the capacity to participate in that economy as well as in the regulation of that activity.
The other strength, or weakness, if you will, is we have a major petroleum basin that has been proven in the offshore, but as has been pointed out, we have a lot of challenges, obviously. As we go into the deeper waters, we have the challenges they have in other parts of the world. Most oil basins in the world are offshore.
We have a great deal of knowledge, a great deal of experience in the Beaufort. Canada has been the lead in regulating in cold waters. We were the first country to institute in the 1970s the same-season relief well policy. We have a great deal of wealth. We have also the strength that we don't have a huge number of applications coming at us. There's a lot of time and we can pace the regulatory review of those applications.
Those are just a few of the strengths. I'm not sure if I'm really addressing some of aspects you wanted to get at.