It's always wonderful to hear from witnesses from Alberta.
You are right. Energy provides immense opportunities. As the Prime Minister has said, we want to be a “superpower” for both conventional and renewable energy.
I just want to note that we are at record production. We'll still be expanding on that to help our allies and like-minded countries. In fact, since 2015, energy production is up 34%. Globally, energy production—oil and gas—is only up 6% over the same time. Impressively, we did that while reducing emissions in the country by 6% over the same time.
Of course, we all know that better is always possible. We all know that regulations, for many decades, have begun to stack across and between jurisdictions. There's more work to be done.
I will also just quickly note, on the MOU, that these are not deadlines. It is a timeline. The Prime Minister and Premier of Alberta have both been clear that things continue to be on track. In fact, equivalency was a month ahead of schedule and methane was a week ahead of schedule.
With that table setting done, I want to talk a bit about exports and the focus of this committee's work today. I want to talk about the opportunity that exports might have to address certain challenges that have been long-standing in the sector. Particularly, I think about the boom-bust cycles of the sector.
Ms. Lail, I'm wondering if you can talk about your views on how exports might help us to smooth out what has historically been a very cyclical sector.