Thank you, Mr. Chair.
Thank you, Mr. Giroux, for coming to the committee on this important matter. We have a lot to ask you on this, including, of course, your numbers on what this is worth to Canada as a sale.
Let me just go through this.
Before this pipeline was built, Canada had oil pipeline capacity of 4,690,000 barrels per day. The extra 590,000 barrels per day of expansion that the TMX brought to Canada brings us to 5,280,000 barrels per day of expansion. What that has accomplished in the time it's been open is a reduction in what's called the differential. The differential applies to all those 5.28 million barrels. That differential was $18.65 U.S. a barrel last summer. This summer, because of the opening of the pipeline, it's $15.05 U.S. per barrel.
About $3.60 U.S.—let's call it five dollars Canadian differential—across 5.28 million barrels per day equals an extra bump to the Canadian economy of $9.5 billion and an extra tax take to the government of $2.8 billion per year.
Were any of these numbers included in your analysis?