The proposed budget reflects a $2 million cost to the regulator of oil and gas in the Northwest Territories. As the Member correctly points out, the responsibility for that regulator will be assigned to the Minister of Industry, Tourism and Investment, and that regulator then will oversee oil and gas operations pursuant to the proposed statute that is part of the transfer effective April 1st ,
the Oil and Gas Operations Act in the Northwest Territories. The Minister will have the ability then to draw from resources accordingly, and the primary objective is to have a seamless transition effective April 1st , and in doing so, we are in the final stage of
an agreement with the National Energy Board to ensure that seamless transition with an ongoing contract with the National Energy Board to conduct this work. That was as proposed in the devolution discussions.
Now we are also in the process of negotiating with the Alberta Energy Regulator, a regulator that’s been in existence for decades, that is overseeing oil and gas regulation in Alberta through a number of incarnations and different structures, but essentially overseeing oil and gas development in Alberta and has a great deal of expertise that is drawn on by many organizations, including the National Energy Board, if I may say, to provide oversight for safety and environmental security of oil and gas operations. Those discussions and negotiations are going very well. We feel very confident that we’ll have all of the expertise and the resources necessary for a seamless and very safe and environmentally sustainable operation of oil and gas in the Territories.