Mr. Speaker, I thank the member for his very measured speech on this important issue.
With respect to oil and gas exploration and development in both the Arctic and the offshore, on the east coast in particular, is the member aware that the absolute liability in the U.S. is actually $12.6 billion in U.S. dollars as an absolute liability regime? That does not seem to affect the 2,500 wells in operation in the Gulf of Mexico, for example. Could he comment on that in terms of affecting the business operation in Canada?
Also, does he really think that ministerial discretion to reduce the billion dollars is something that can be left uncontrolled, or that it should even exist at all?