Mr. Speaker, the Hibernia project is already far from proving that it can be profitable. Because of the announced cost overruns, the production cost of a barrel of Hibernia oil would be considerably higher than international market prices. The extra money invested in this project by the government is totally unjustifiable. Defending Hibernia's profitability seems to be an act of faith we can no longer afford.
My question is for the Minister of Natural Resources, of course. How can the minister invoke the profitability of the Hibernia money pit, when it seems certain that the cost of extracting oil from the Hibernia deposit will be higher than oil prices on the international markets?