Thank you, Chair.
Mr. Johnston and Mr. Tertzakian, I want to thank you both for being here. We have many good panels, but I like to say that it's not a great panel without a Calgarian.
Peter, you're a Calgarian. Rory, you're an honorary Calgarian in my books. Look at us go. It's a great panel today.
I think we're going to be in violent agreement about the need to diversify away from the United States, the need to move faster and the need to improve regulatory processes, as the Prime Minister has said. On that, I want to flag that the Major Projects Office work is, in some ways, to bootstrap that—to, of course, be a mechanism that we can use now as we take regulatory learnings into the system as a whole so that the entire system can move faster.
Mr. Johnston, I want to talk a bit about the gravity theory of trade. This is a question I've asked many witnesses over the course of this particular study.
Economics concentrates, and it is strategic to diversify. Economic security and nation building are reasons Canada and Canadians would want to diversify, but those are not reasons that the market should have to pay for, frankly. How do we do it with minimal market distortion or, where distortions are, so that those distortions, when necessary, are “fair” and don't favour one party over another?
What advice do you have, as we think about exports, about where we can take such steps?