Natural Resources committee  Nothing overnight. It would rely on the investment confidence in—

Natural Resources committee  Yes. If those refineries are willing to invest money, and if they see a long steady, stable supply of oil that would incent them to make any investments they need in the refinery, to use more of the heavy oil product that we would provide from western Canada, you would see a meas

Natural Resources committee  Well, to be realistic—

Natural Resources committee  —probably five to 10 years.

Natural Resources committee  The oil and gas industry around the planet is fairly integrated in terms of knowledge base, whether it's around the understanding in geology, the big data management of geological information, or drilling techniques. In the service sector, the Schlumbergers, those large service-s

Natural Resources committee  Certainly, and I think the economists have long quoted that it's the most effective and efficient way to incent behavioural changes on carbon emissions, on GHG emissions. We obviously see that. Our focus has been to make sure that a lot of the revenue that comes from a carbon p

Natural Resources committee  I think most of our strategic oil reserve is in the ground, and that's similar to other jurisdictions. However, it requires us to invest to get that strategic reserve implemented when we want to. I think our ability to turn that strategic oil reserve on and off needs to be increa

Natural Resources committee  It's pipeline access.

Natural Resources committee  We believe you would see a difference in activity. Although the differential has shrunk significantly, almost to disappear, you have to remember that the gross returns have also shrunk. So that differential means a lot more today to some of these companies than it did when we had

Natural Resources committee  As I said earlier, the investment community is a little anxious, so just getting a pipeline approved today—

Natural Resources committee  Yes, if it were approved today—but it wouldn't be built today.

Natural Resources committee  Probably not to the same levels.

Natural Resources committee  Well, that I couldn't tell you. I would query the investment community. Broadly speaking, there is a lack of confidence right now in investing in Canada. A lot of our members will tell you today that for the last few years, where they've been going out on the road trying to attra

Natural Resources committee  Very little would be brand new projects. I think the important number that we've highlighted in a few conversations is the capital that is being deployed. It's not so much maintenance versus new, but it's how much of that is going into merger and acquisition activity as opposed

Natural Resources committee  Yes.