Thank you both for attending.
Mr. Nuttall, as a recovering investment banker, I recall watching you on BNN. You were very forthright in some of the interviews I saw of you. It's great to see you here and that nothing has changed.
The International Energy Agency produced a report, “Oil 2025”, a long-term forecast. The report says that global oil demand could grow by about 2.5 million barrels per day from 2024 to 2030, with annual growth fading over time, plateauing at about 105.5 million barrels per day and hitting peak demand around 2030, with the growth rate slowing after that.
I want to get a line of sight on this. With that mid-term outlook from the International Energy Agency, what type of offtake agreements do we need to see for Canadian oil and gas? In terms of duration, price and credit quality, what do we need to see to have the long-term sustainability of Canadian oil getting to market?