Natural Resources committee  I would say it's been a tragic year. I think it's horrible what Canadians across this great country have experienced. I think we would say—

Natural Resources committee  Mr. Angus, I can obviously sense your passion on this. I think global energy, greenhouse gas emissions and climate change are complex issues that are important to our society. We all have a role in it, whether that's government, industry or society. I share your passion and concern on the topic, but I don't think it's about what fraction is one party...versus the other.

Natural Resources committee  There are two things. There's the energy mix, broadly, in all different types of energy. If you're talking explicitly fuel—transportation fuels and aviation fuels—our priority is to continue to bring an increasing renewable component to those fuel supplies.

Natural Resources committee  Your question is a good one. In terms of our industry, the nature of.... We're a big company. It's big dollars. I'll give you a few numbers to tie in. Over the last three full years, we made, in total, $9 billion in profits. We've paid $10 billion in income taxes and royalties to the federal and provincial governments to build bridges, hospitals and schools.

Natural Resources committee  I'm colour blind, so I'll just work off of which hand they're in.

Natural Resources committee  One of our priorities is to continue to decarbonize our existing hydrocarbon businesses.

Natural Resources committee  Do I agree with the clean fuel regulations? I have not studied the regulations in my six months in the job here. However, what I would say is that, whether it's at our Petro-Canada sites or anywhere else, we comply with all regulations that are there. In terms of agree or disagree, I don't know if that's as relevant.

Natural Resources committee  Let me start with the oil and gas. There are a lot of various outlooks—whether or when it's going to peak, etc.—but I think the important thing to realize is that oil and gas are depletable resources. If we do nothing, if the world does nothing, depending on...for gas it may be a 5%-per-year decline, and for oil it may be a 7%-per-year natural decline.

Natural Resources committee  Thank you. Our view of the future and our commitments haven't changed: our commitments to decarbonizing our existing base hydrocarbon business and our commitments to being a part of the longer-term transition over time. I appreciate the question, because I think part of the basis upon which I was called here today dealt with comments I made in August on an investor call.

Natural Resources committee  Yes, there's a lot to that question, so let me step back. I think one of the things that capital markets look for is a reasonable return for a reasonable risk. When you think of what's important to capital markets in major investments, you see that we look for levels of predictability, stability and certainty.

Natural Resources committee  I have worked in more than 20 oil- and gas-producing countries around the globe—southeast Asia, the Middle East, the former Soviet Union, west Africa and North America—over the course of my nearly 40-year career. The last seven years of my career were here in Canada. When I look at what I see about not only what we do but how we do it, whether it's human rights, personnel safety, environmental protection or the responsibility this industry applies to developing its natural resources in Canada, I can without hesitation say that I believe the world is a better place if the incremental barrel of oil comes from Canada than most anywhere else I've ever worked.

Natural Resources committee  Thank you, Mr. Chair. My objectives today are twofold: to convey how Suncor sees the global energy future, including the role of oil and natural gas in Canada, and to share the actions Suncor is taking today to tackle the dual challenge of meeting the world's energy needs while addressing greenhouse gas emissions and climate change.