Thank you, Mr. Chair.
I had the pleasure of being on the board of directors of an oil sands company for a couple of years, from 2006 to 2008. Back then everybody wanted to build upgraders. It seems to have changed quite a bit in the last five years.
If I understand the arguments that are presented—and here I'll cite Dr. Mintz—it seems at the moment that companies like Exxon that are in the oil sands want to use unused capacity in Houston to do the upgrading to synthetic oil, and then move on to even more refined products. You brought up Sinopec. China would like to use its capacity there.
Mr. McGowan, are you suggesting that if it isn't the private companies that build these upgraders in Canada because it doesn't make sense for them, and that if somehow governments got involved in building them, there would be a ready market for refined products coming out of these upgraders?