Natural Resources committee  I've met with only a very small number of possible proponents in light of the fact that the regulatory regime is not in place. Similar to Christine, we steer them towards governments at this point and to the regional assessment. I'm confident that once the regulatory regime and the legislative regime are in place, interest will pick up because, as Mr.

Natural Resources committee  Yes, a number of our counterparts in the petroleum sector have already received the expanded mandate. In addition, as part of my tour of Germany last summer, I spent some time with the German regulator.

Natural Resources committee  I think you mentioned two right there: Norway and the United States.

Natural Resources committee  I think there have been some hiccups in the United States, and I think that has underscored the importance of undertaking those discussions with sensitivity and proactivity. I can't speak to the effect that it may have had on investor confidence. I'm just not sure.

Natural Resources committee  The best I can offer is that if Bill C-49 or something like it is not put into force, offshore renewable energy will not be regulated through an agent and the product of joint management, so one can assume it would look much more federal in its regulation.

Natural Resources committee  Yes.

Natural Resources committee  We stand ready for offshore renewable energy projects.

Natural Resources committee  If it is to be pursued through joint management, our opinion would be that this is the best avenue to reach that objective.

Natural Resources committee  I do not.

Natural Resources committee  There are no proposals before the board currently. The Bay du Nord project is widely discussed but remains hypothetical. It is being assessed by Equinor in terms of its economic viability, so it is not before our organization at this time.

Natural Resources committee  The board can cancel an interest for violation of conditions and refuse to issue an authorization. Bill C-49 has an additional provision with respect to cancellation of interest by ministers, as opposed to the board.

Natural Resources committee  Ministers, Premier Furey and others have spoken eloquently about the place of oil in the energy transition. I think there's going to be a place for oil in the world for the foreseeable future. We all appreciate and recognize the urgency of the energy transition you described and the imperative to lower emissions.

Natural Resources committee  I couldn't say. We simply aren't the lead on the consultation, so I haven't been party to many of those discussions beyond the One Ocean one that we talked about earlier.

Natural Resources committee  Unfortunately, I can't give you the yes or the no. That's a question better posed to officials from the Government of Canada.

Natural Resources committee  Sure. The conversations, from our perspective, have really focused on what sorts of competencies we need as regulators to effectively take on this expansion of our mandate to offshore renewable energy projects. They've been quite comforting and validating, in that the assurance we get from our counterparts is that there are not significant expansions of competencies and skills required on the part of our staff in order to take this on.