Let me address the bad, and then I'll finish with the good.
The past 10 years have been devastating for global interest in investing not only in Canada but in the Canadian oil and gas sector. I think every major economic statistic validates that view.
I think there is growing optimism on the part of the oil and gas industry—my source for that would be speaking directly to many oil and gas executives—that the tone has meaningfully improved. We have gone from a country that seems to want to shoot itself in both the foot and the head simultaneously to one that is recognizing the impact that oil and gas have on our economy. At least through words, it is signalling a growing championing of that.
I think there remains a lot of skepticism about whether much talk—a year of it—will actually translate into action. We're very hopeful for that. This sector is on the cusp of a major bull market, and all that's needed is for government to get out of the way and eliminate.... You mentioned several pieces of legislation.
I can quote several CEOs of major Canadian midstream and pipeline companies who have said—going back to my earlier theme that investment capital is highly mobile—that they still prefer, even with all the talk of the past year, to allocate investment dollars to the United States versus Canada.