Mr. Speaker, with friends like me, he does not need any enemies. This is actually an opportunity to have a real debate about this liability, as opposed to the usual nonsense that passes for debate around here.
I wonder whether the concept of pooled insurance would be a concept the committee might consider. It may well be similar to Lloyd's of London. The insurance company would take the first hit on the liability, and thereafter some form of Lloyd's-type insurance, either from the industry itself or from Lloyd's, would actually pick up the balance.
I appreciate the significance of the cost of the premiums, but on the other hand, as they say in the economics trade, these are externalities. These externalities are things that heretofore we have not actually factored into the cost of transporting carbon. We feel it is perfectly fine to pollute the environment, the water, the air, and that sort of thing and not price it, as opposed to other forms of energy generation. These are the kinds of things I would like to see a committee get into.
Does the member accept the minister's statement that it is 99.99% safe? There seem to be a heck of a lot of incidents in the newspaper about spills, small and large.