Mr. Speaker, I rise today to congratulate all those involved in the Hibernia project and the people of Newfoundland for yesterday's milestone event when oil began to flow one month ahead of schedule and under budget. This day has been long awaited not only by the people of Newfoundland but the shareholders and taxpayers.
Investors can now begin to see a return on the billions of dollars used to finance the megaproject. Shareholders now have confidence to invest in future offshore oil projects. The people of Newfoundland will have up to 650 well paying jobs for the next several decades.
Newfoundland Premier Brian Tobin is quoted as saying that he expects Newfoundland to be a have province by the end of the decade. We Albertans know well the pride and benefits when oil flows.
Once again, congratulations to the people of Newfoundland.