Mr. Speaker, yesterday the Prime Minister claimed that energy east was cancelled because oil prices dropped. I have the letter here from TransCanada, the project's sponsor. It does not mention a word about oil prices, but it does say, “Notwithstanding these efforts, there remains substantial uncertainty around the scope, timing and cost associated with the regulatory review of the Projects.” After completing its review of these factors and the associated costs implicated with the regulatory process, they decided to withdraw the project.
Did the Prime Minister not know that the reason the project was cancelled was because of his regulatory obstacles, or did he know, and did he mislead the House?