Thank you, Mr. Chair.
I want to thank the witnesses for joining us this morning.
I am letting you know that I will be sharing my time with my colleague, Ms. Leslie.
My first question is for Mr. Howard.
During its study, the committee has learned that inflated costs and stretched timelines of oil sands projects have resulted in lower production than what was forecast in 2004. One witness told the committee that the more recent forecasts for oil sands production and associated economic benefits were underpinned by unrealistic assumptions about cost. Could you please comment on that argument?