Michael Miltenberger

Thank you, Madam Chair. The issue of buying in US dollars anything of significance, both gentlemen at the table here have a combined experience of over 50 years, and this is the first situation of this nature that either one, with that extensive experience, has experienced or been involved in. I have much less experience in the finance field but could add a few years to that as well.

As the deputy minister indicated, we are taking the steps with one of the institutions and a facility to be ready, should that need arise, and we’re going to, of course, be prepared, and this has now been...

Thank you, Madam Chair. The whole practice of hedging is a separate, highly volatile profession of its own, and if we could, with any certainty, know which way things were going to go as hedgers, as has been pointed out, I’d probably be sitting in lavish luxury somewhere in maybe another locale. Be that as it may, we don’t normally buy a lot of things in US funds and, no, we did not hedge, buy any dollars to hedge on this. Yes, we are looking at how we could possibly ameliorate that impact. But I would also point out that earlier in this process we came before the Legislature and we moved some...

Yes, Madam Chair.

Thank you, Mr. Chairman. I will make it on the record here that we will provide that information. We will be monitoring closely the system designed with checks and balances to ensure compliance and a high level of implementation. We will commit to share that with committee now and on an ongoing basis.

As we turn to look eventually at the Yukon lateral or the Dempster lateral into the Yukon, clearly there will be lessons learned from this project and we will be applying those when that day comes as we look at doing that shorter and more easy-to-access route down into the Yukon. Thank you.

Thank you, Mr. Chairman. Yes, there was a level playing field. Every proponent had the same information and there have been no change orders. Thank you.

Thank you, Mr. Chair. It doesn’t appear that we have that information here. We’ll have to agree to provide that to committee.

Thank you, Mr. Chairman. I have with me Mr. Mike Aumond, deputy minister of Finance.

Thank you, Mr. Chair. Just a quick supplement, if I may. The Taiga Lab was part of the devolution package and the federal government knew, for some time, that they were going to be transferring assets, so they didn’t renovate and rehabilitate every asset they had to peak condition before they turned it over to us, that’s one thing.

What was brought before the House last time, if my memory serves me correctly, was the bringing on, of course, the staff as employees and not contract individuals where they, under the federal system, paid their way by doing all the scientific work that they do and...

Thank you, Mr. Chairman. I have with me the deputy minister, Mr. Ernie Campbell; and Ms. Susan Craig, the director of finance and admin.