I think as members of this committee are aware, the Mackenzie Valley pipeline project was subject to a very complex review process involving a number of different federal regulatory departments and agencies and different territorial responsibilities as well, and had significant issues related to engagement of Canada's aboriginal peoples along the pipeline corridor.
I think we're all aware of the challenges in terms of the timeliness of that process. During that timeframe the project went through the review process, market conditions changed quite considerably to the point that by the time we got through the review process the economics for the project were quite different from the economics that we're currently dealing with today for natural gas, to the point where there's considerable consideration on whether or not that project ultimately moves forward.
It's one of the reasons for the creation of the major projects management office in terms of steps going forward. It was to ensure that the outcomes, the decisions for these projects, regardless of whether it's a go or a no-go decision could be made on a timely basis, so that when there is a window, and often a short window given market cycles, for these projects to move forward, we can capitalize on those opportunities and have those decisions made in a timely fashion.