Thank you.
Minister Parsons, we know that Newfoundland and Labrador really benefited from the offshore oil and gas. You built up a world-class expertise. Just two years ago, Bay du Nord was approved. It's a 300-million-barrel project that went through all the approval processes. That's a hell of an investment of time, yet the company walked. They said there was no economic case for it.
That sent a real signal. We see that the International Energy Agency is now predicting up to a 25% decrease in demand in the next six years.
If we're looking at that change happening that fast, how important is it that we use the skills we have in Newfoundland and Labrador and use ports like Argentia to start being able to compete, so we have something to fall back on if the oil sector does make that transition that seems to be happening faster than expected?