Thank you, Ms. Exner-Pirot, and thank you to both witnesses.
I feel a bit awkward about this, but if colleagues will consent, I will lead the first round of questions. Claude, you can time-check me. The clerk will keep me on track.
Thank you. Let's start.
Thank you to both witnesses for being here today.
Why don't we start off the top with a point both of you made about the necessity of infrastructure in order to stimulate investments so that products can actually be shipped?
I'd invite you both to describe the approach to energy development in Canada by this same government during the past 11 years, and exactly why no private sector proponents are willing to propose intergovernmental, interjurisdictional pipelines for export—two proponents did, but couldn't see the way to the end of the regulatory system.
Could you please explain why the government regulatory framework is absolutely, inextricably linked to a private sector proponent's determination of a business case?