Mr. Speaker, at the end of the day this is going to be a dead deal in terms of the pipeline being built because the tanker traffic is just too risky, based on the route we are talking about, as the member for Skeena—Bulkley Valley indicated before.
In addition, the government has changed the Marine Liability Act under Bill C-7, tripling the amount for victims' compensation from $500 million to $1.5 billion. Since insurance is the grease that runs business, when the underwriters for reinsurance companies in London, England, discover how risky this tanker route really is, they are going to refuse to insure these ships.
As an example, for a number of years in Manitoba we had a problem getting ships into the port of Churchill. In that day, the premier and the cabinet had to go cap in hand to London, England to explain to the underwriters why insurance should not be denied. That is the only way we were able to get those ships through. When the underwriters find out how risky this route really is, how risky pipelines are, because pipeline accidents have been hidden over the years, the insurance industry itself will shut down this operation.