In my opinion the lack of infrastructure is the biggest constraint on attracting investment in the Northwest Territories as well as the low commodity prices and the very high cost of operating in the Northwest Territories. Construction of the Mackenzie Valley Highway would reduce exploration and developments costs along the corridor by as much as 40 per cent. The 2015 Review Report of the Canada Transportation Act estimated a leverage factor of 80 for the Mackenzie Valley Highway, which means that for every $1 of federal and Northwest Territories' investment in the Mackenzie Valley Highway the economic benefits related to increased resource development will be $80.

Transportation and infrastructure is not only needed for equipment, people, supplies, food and energy but also for data to facilitate communication research. The Mackenzie Valley fibre optic line is also being constructed up to Inuvik and will enable expansion of the Inuvik satellite station facility as well as provide high-speed Internet and telecommunication services to the Beaufort Delta. We have opportunity to responsibly develop, produce and export our petroleum resources to global markets to create high-paying jobs, lucrative contracts for our businesses and tax and royalty revenues for the Northwest Territories, Aboriginal and federal governments. I too am encouraged by the fact that the price of oil is increasing.