Madam Chair, first of all, as I explained, we have a regulatory board here, the National Energy Board. It is a quasi-judicial, independent organization that has existed for 50 years. It is in charge of regulating and managing all gas and oil drilling and production projects in Canada.
We have regulations, known as the Canada Oil and Gas Drilling and Production Regulations, which state that the board requires the operators to provide information on contingency plans, resources, deadlines and emergency response procedures. The board can also require the operators to provide moneys up front as a guarantee.
It is a very strict system. However, given what has happened in the Gulf of Mexico, the board has also launched an extensive consultation that will be open to the public. It will be open and transparent. Those interested can contact the board with their concerns. The goal is to better understand what has happened in the Gulf of Mexico in order to advance our understanding and improve the regulations we already have in place here in Canada.