Thank you, Mr. Chair.
I have a couple of questions for Ms. Lail.
It's rumoured that Newfoundland and Labrador has more undiscovered oil and gas than Norway. When I talk to people in the industry, there's a lot of excitement about this, but it's been years since we've seen bids from oil companies to explore our offshore oil and gas.
From talking to people in the industry, it seems that there's a lot of red tape, but there's also a massive veto that the government holds. Currently, if a company invests billions of dollars in exploration, the federal government can decide—at any time—that this is a marine protected area and shut down that exploration, leaving that company high and dry.
Have you seen this in other exploration policies, perhaps in Alberta or throughout the world? Do you think it creates too much risk for these companies to make something economically viable?