I've renamed the grand bargain the “grand ransom”. It appears obvious, I think, that the current government is tying a new pipeline to initiatives such as Pathways, which is, by most recent cost estimates, roughly a $24-billion project.
You point out that additional costs for this industry are a negative for several reasons, the largest of which is that capital is very mobile. I run the largest energy fund in Canada, so we have a choice every single day: Where do we invest our clients' dollars? Is it in the United States or Canada?
It should seem obvious that there are two jurisdictions taking two very different approaches. I worry that adding incremental costs onto this sector, especially at a time of volatile oil prices, will disincentivize the flow of funds back to Canada and harm our sector's ability to grow production at a time when there's a global call for incremental supply.