Finance committee  The costs are increasing now, and rig rates are going up. It's a globally competitive industry, and one of the constraints right now is actually ensuring that the rates on the global markets—[Technical difficulty--Editor]— Day rates for rigs have gone up from approximately $150,0

Finance committee  We have had two exploration wells built this year—[Technical difficulty--Editor]

Finance committee  I would have to get back to you with information on that. Gerry?

Finance committee  Obviously we are focused right now on exploration—[Technical difficulty--Editor]—lots of exploration and development of mines are one way to offset some of those costs, starting with—[Technical difficulty--Editor]— Both the federal government and the provincial governments can su

Finance committee  Well, again, that's a point we made initially, which is that it is in the country's best interest to diversify our energy resources, in particular, our non-renewable energy resources. While Alberta is rich right now with the non-conventional oil, it's conventional oil and gas pro

Finance committee  On a personal level, no, it's not a good idea.

Finance committee  The relevant points here would be from our comments about diversification of Canada's energy resources. While the country is very rich in resources, with substantial reserves in Alberta, reserves and production are declining here on the east coast in conventional oil and gas in g

Finance committee  Thank you, Mr. Chair. Good morning, ladies and gentlemen. Thank you for the opportunity to address this committee today. I am Ted Howell, president and CEO of NOIA. We're an industry association representing the petroleum supply and service sector in Newfoundland and Labrador an