Natural Resources committee  Thank you very much, Mr. Chair. Thank you to the committee for providing this opportunity for Suncor Energy to share some thoughts on this very important topic of energy security. Of course I am very pleased to be here, as well, with Dave Collyer and John Wright this morning. We

Bill C-30 (39th Parliament, 1st Session) committee  There should be sufficient dialogue to ensure the targets establish creative tension and don't erode investor confidence. But having that understanding, I agree we should move on and set targets for internal energy efficiency that are going to ensure improvement.

Bill C-30 (39th Parliament, 1st Session) committee  The climate change plan. Our focus primarily is first and foremost on our internal energy efficiency. Second are renewable energy investments, which we are making in Canada as an alternative to purchasing credits. Third are new technologies, which includes the CO2 capture and geo

Bill C-30 (39th Parliament, 1st Session) committee  I'd cite the national round table study as showing carbon capture and sequestration being one of the largest opportunities that Canada has for material reductions.

Bill C-30 (39th Parliament, 1st Session) committee  The question came up earlier on timeframe. We'd probably look at more like a decade to have that fully up and functional and different sources being tied in over time.

Bill C-30 (39th Parliament, 1st Session) committee  Yes, and it's important, as we talk about emissions markets, to understand what they don't do. They are not a substitute for foresight. They are an easy-to-use instrument. But with the technologies we're talking about, you require longer lead times, and you're not going to make t

Bill C-30 (39th Parliament, 1st Session) committee  If we get into a punitive mode we'll be pushed into a box where least-cost compliance is going to be success, and least-cost compliance is not going to be the mindset necessary for the long-term solutions we're talking about today.

Bill C-30 (39th Parliament, 1st Session) committee  Whose prediction?

Bill C-30 (39th Parliament, 1st Session) committee  We could use the National Task Force on Oil Sands Strategies that in the mid-1990s estimated one million barrels a day by 2020.

Bill C-30 (39th Parliament, 1st Session) committee  We were at one million barrels a day in 2005.

Bill C-30 (39th Parliament, 1st Session) committee  Whose crystal ball is the right one?

Bill C-30 (39th Parliament, 1st Session) committee  Certainly there have been announced plans that would put us in that range.

Bill C-30 (39th Parliament, 1st Session) committee  Yes, ratification of Kyoto happened in—

Bill C-30 (39th Parliament, 1st Session) committee  I can predict with 100% certainty that I can't predict the price of oil.

Bill C-30 (39th Parliament, 1st Session) committee  We sure don't see demand globally softening. What we don't have a clear picture of is the supply side of the equation. I would say that oil sands strategically in the world is a critically important resource.