The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst
: Two questions for you. I think the first one is for Kevin. I think in your prepared remarks, you talked about an inventory panic in NGL and also the
refining that helped the quarter. Can you quantify how big are those number? And also, I believe that the third tax deferred revenue you recognized
in the transportation, if you can quantify that also. Maybe that -- after that, then I ask the second question.
Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. That's fine. And can you tell us that at least that in refining, which region is the inventory impact?
Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. The second question, Greg, just I think before the pandemic, I think in the past that you're sort of looking at long-term CapEx in the range of
$2.5 billion to $3 billion kind of range, that talking about $1 billion to $2 billion of the -- maybe the growth CapEx. Since then, of course, that the
outlook for the investment opportunity in the midstream has changed, so you're probably not going to spend that much money.
So once that your debt is back to a comfortable level and you start to be more in the growth phase, what is the capital allocation we should look
at on the longer-term basis? And also maybe on a side question, on DCP. Is there any way to restructure that structure, I mean, you say $35 million,
$40 million a quarter associated -- it seems like, yes, not causing you a problem, but you're also not adding a lot value. I mean does it really fit it
into a long-term portfolio for you?
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