Thank you, Mr. Chair. As this has come up with the mineral side of things, too, my answer is exactly the same. Our fiscal regimes needs to be looked at carefully and holistically, not through the lens of just royalties. It's our opinion that there is insufficient time to put in the attention that this process deserves in the life of this Assembly, and it is our opinion the responsible thing to do was to get through these first-step amendments right and set the stage for the review of our government's fiscal regime for the mineral and petroleum resources for the next Assembly. Thank you, Mr...

Thank you, Mr. Chair. I am pleased to introduce Bill 36, An Act to Amend the Petroleum Resources Act.

Bill 36 seeks to enhance transparency and public accountability, address administrative and technical issues, and manage significant discoveries of petroleum in the Northwest Territories in the best interests of all residents.

To enhance transparency and public accountability, this bill proposes:

requiring greater amounts of information to be disclosed about a number of different licences and activities related to the petroleum in the NWT;

increasing public representation on the Environmental...

Well, we are figuring that out. I have the information here for Members on SDLs. Northwest Territories onshore, we have 90 SDLs, 90, nine-zero, covering 460,077 hectares. Thank you, Mr. Chair.

I think the BIP policy is more than fair. That is a $500,000 adjustment to a contract over a million dollars. That is a significant amount of money. As the Member is referring to the policy in BC, Infrastructure follows the BIP policy to the letter of the law, and we do that, and that is for NWT-owned and -operated businesses in the Northwest Territories, and that is what the BIP adjustment is for. What he is referring to, what BC is trying to do, I am not even sure if they are doing it. I have to double check it, but we cannot put restrictions on people bidding on contracts in the Northwest...

Thank you, Mr. Chair. No, we will not. It is consented as a bill already. Thank you, Mr. Chair.

There is no cap for northern contractors bidding on projects. We welcome bids from northern contractors on all projects, but I think what the Member is referring to is the BIP adjustment within the BIP policy, which adds up the contracts to up to $1 million and over $1 million. I will read it all in verbatim, just for the public.

Section 8:

(8) Application of Bid Adjustment

Contracts Less than $25,000

Whenever possible, goods, services and construction valued at less than $25,000 should be purchased directly from BIP Businesses in the Local Community, but no bid adjustment will be applied.

Contract...

Can you repeat the question?

Mr. Speaker, we have also committed to working to diversify our resource mix by developing a long-term strategy for oil and gas in our territory. We have delivered, releasing our Petroleum Resources Strategy with two key outcomes in mind: local benefits, like heating and power generation; and a healthy export market in the future. We have made progress since.

I am pleased to see the Inuvialuit Regional Corporation defining a way forward for their regional natural gas heat and electricity initiative, which has a vision to provide reliable, affordable energy in the area. Our government has...

Thank you, Mr. Chair. One of the things with these SDLs that are already in place, as I said, there would be significant litigation possibilities with it.

Now, if we want to try to get these companies to create some type of economic opportunity from existing SDLs, I would say exactly that is what we are doing through our petroleum strategy. We are trying to attract investment in the Northwest Territories. We are trying to get the federal government to invest in infrastructure to help lay the way to make it more possible for industry to be attracted to this area, to bring their costs down.

These...

Thank you, Mr. Chair. No, they will not.