Natural Resources committee  I could perhaps elaborate somewhat. I understand that within the upstream there are some concerns in terms of how the R and D numbers are calculated as opposed to on-the-ground innovation. I would point out that on the TSE, Canada is blessed with the largest number of energy comp

Natural Resources committee  We don't have the pipeline numbers yet and we're working on them. I'm not saying the numbers are high enough but I am pointing out that embedded within the reinvestment numbers is a lot of innovation that is leading to state-of-the-art outcomes in Canada and to SMEs that export t

Natural Resources committee  The report provided, the energy, mining report, is the one that would look at the actual economic outputs, GDP, jobs, etc.

Natural Resources committee  By province, and if you would like, we can provide that. With respect to community investment, I know we have a rolled-up number. I'm sure there are some data below that, but I don't have those with me.

Natural Resources committee  You were interested, I think, in the cost structure in the pipeline industry as well as the regulatory requirements if you were to change what's flowing through the pipeline. Certainly, costs are a factor. When operations become more complex and switching and batching is involv

Natural Resources committee  Certainly pipeline construction has a lot of transferable trades, as you're describing, and also a lot of sustained employment because, in addition to new construction, there's ongoing maintenance and that also involves many of the same trades. These big operating systems are mai

Natural Resources committee  Well, diluted bitumen is moved in pipelines and there—

Natural Resources committee  Generally it's diluted with condensate.

Natural Resources committee  The diluent is a side product of other production. It's a type of hydrocarbon, but it's lighter.

Natural Resources committee  That is correct.

Natural Resources committee  There is a distortion in the market when you don't have sufficient capacity to give the market choice. We've seen it before at other points in history when a shortage—whether it's a highway capacity to move manufactured products or pipeline capacity—will cause a deterioration in

Natural Resources committee  Absolutely, and that multiplier is not just revenue to companies, but lost government revenue as well, in the order of about $8 billion every year that could otherwise go to higher education, health care, tax reduction, or whatever you would choose to deploy. I want to restate s

Natural Resources committee  I don't have hard numbers. Michael may know this more tightly than myself, but I would point generally to the Toronto Stock Exchange, for instance, which is broadly held by a lot of those sorts of investors. I think about 25% is energy related at this point in time in Canada. So

Natural Resources committee  That's my understanding absolutely, in respect of anyone who has gone beyond simply holding a GIC in a bank. Any other types of investments, about one in four of those dollars are typically in energy as I understand. I'm not an expert in the field.

Natural Resources committee  These are publicly available numbers to be corroborated, but my understanding is that currently the Toronto Stock Exchange is roughly 25% valued related to energy.