Mr. Hardie, I think that's a good question.
I think in the prescribed five minutes, we would tend to glaze over some of the complexities of the question you just asked. In British Columbia, as you might be aware, and certainly in Alberta, because of the plentiful supply of electricity that is based on renewable provision through B.C. Hydro, we're seeing electrification of the upstream extraction of natural gas and light tight oil. In the case of liquid natural gas, which isn't covered under the bill, we're also seeing the electrification potential for downstream movement of the products, as well.
The consequence of electrification in the domestic extraction is that its carbon intensity is half of that of the average U.S. barrel. Within Canada's borders, we're already a 50% lower carbon contributor to the global supply chain moving forward.
I can't speak to your point on offshore refining costs. However, the reality is that, in the case of British Columbia, where the Government of Canada has supported the LNG industry through both environmental assessment approvals and offtake approvals, with that technology we have the potential for up to a million barrels of light tight oil and condensate a year, which requires very little refining and which would have no market off the north coast.
Moreover, what you would find, despite the protections that we're investing in the oceans protection plan and the investments we've made in infrastructure, Prince Rupert on the north coast, is a day to three days closer to the markets with the highest demand moving forward. That in itself in the supply chain also reduces transportation GHG emissions as well as costs and the impacts on the environment.
I have every confidence in the ability of marine tanker safety moving forward, but within the walls of Canada, we already have the ability with technology today, let alone tomorrow, to reduce our carbon footprint and to make a bigger global impact on GHG reductions.