Mr. Speaker, I did not hear the exact question but it was something about who owns more than 18% in Petro-Canada. We own 18.2% of the shares. The rest of the shares are owned throughout the country. This will open them up to foreign ownership as well.
The 18.2% is a non-managerial position. We do not make the decisions regarding Petro-Canada, nor should we make them.
Petro-Canada had its place. Petro-Canada helped start the Hibernia field. It helped develop Panuke and Cohasset off Sable Island. I worked in those oilfields for eight years as a driller. Petro-Canada was needed then. It was a wildcat operation with high pressure and deep wells. It had some of the iffiest wells being drilled in the world at the time.
However those days are gone. We found the gas and oil. We have better technology. We can drill faster and cheaper and can find gas and oil better than we ever could before. We no longer have the high risk in the energy sector that used to be there. It is time to move on and sell the shares.