Obviously we understand that we're in a transitioning economy. Oil and gas as we know it, depending on which analysts or what crystal ball view you take, may have decades of opportunity.
My interest is like, again, the Norwegian interest. Norway has found a great duality. It is a leader in climate change and climate change technology and innovation and renewable science and renewable energy. As an example, the highest penetration of electric vehicles is in Norway, yet it continues to open new areas for oil and gas exploration. It is a paradox.
Norway does it because it believes it will produce the most responsible barrel of oil or litre of gas of anyone in the world. They do it today. They have the lowest CO2 emissions per barrel in any jurisdiction because of their regulation and their technologies.
Canada's offshore, by the way, or Newfoundland and Labrador's offshore, is the second-lowest. We have small gaps to close, and it's mostly at an operational level.
I would like to see in the hydrocarbon era, whether it be measured in decades.... Remember that the offshore is long play. It takes two or three years to plan to drill. It takes five to six years to build the asset and 30 years to operate. There are not going to be many opportunities to get that trillion-dollar pension fund for Canada from the east coast, and I don't think that's going to really happen, quite frankly, but there is an opportunity in the hydrocarbon window for us to really stimulate our offshore in a responsible and balanced way and to make sure that, as Norway believes, if the last barrel of oil produced should be a Norwegian barrel, why can't it be a Canadian barrel?