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Environment committee Thank you, Mr. Chair. In the interest of time, I'll keep my comments relatively brief. I want to talk about two main things. You've heard the regulatory story and what has been going on today, but I want to talk a little bit about the technology advances that are going on. We
May 13th, 2009Committee meeting
Greg Stringham
Finance committee Oh, it would definitely make a difference in the business. He asked me whether it was a subsidy. It's the same cost that's being deducted, but to have it deducted—
February 27th, 2007Committee meeting
Greg Stringham
Finance committee That is correct. But what that does is level the playing field for all the mining industry, because if you have sufficient revenues within your company—
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Oh, absolutely. That would change the risk profile associated with all these projects, for sure.
February 27th, 2007Committee meeting
Greg Stringham
Finance committee That's correct, because the recovery of that capital affects the financing, in particular for small Canadian companies.
February 27th, 2007Committee meeting
Greg Stringham
Finance committee No, I don't believe so. I see a subsidy as being cheques written from the federal or provincial government to people, and it would be giving them economics that are coming from taxpayer dollars. This is a deduction of costs that would be normally deducted; it's just a different t
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Absolutely. The funds are going in to the government that are being put towards green initiatives. But not only that; it's providing revenues to the companies. If you look at some of the largest providers of wind power, on the renewable side, they include TransAlta, Enbridge, S
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Absolutely. And whether it's a vehicle or the opening up of a mine, it really depends on when they are actually purchasing that vehicle. Let's take a vehicle that is put on order when they're planning to open up a mine. They begin to go through the regulatory process five to si
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Unless you have substantial revenue from the mine, you have to write everything off equally, so you can't just pick that truck and write it off. It is limited by how much revenue is coming out of the mine. That is a strict limitation put on ACCA that is not put on other capital c
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Absolutely. Thank you very much. The number I put forward was from the Canadian Energy Research Institute study that looked at oil sands alone, not the entire industry, over the period 2000 to 2020. Those oil sands generated revenue of $123 billion to governments, including the
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Let me just add one point. On that as well, they need to recognize that it's not just written off in one year. The accelerated capital cost allowance can only be written off to the extent of revenue from the mine, and it has to wait until you actually have production coming for
February 27th, 2007Committee meeting
Greg Stringham
Finance committee From my perspective, I believe that is the same number. It's a number that was generated based on a 1997-to-2002 study originally by the Parkland Institute and then adopted by the Pembina Institute. So it is, I believe, the same number, which is again, as I said, historical and i
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Thank you very much. The purpose of this accelerated capital cost allowance was the same as it was in 1974 and as when extended to the in situ in 1996. It was to recognize large capital costs, long lead times, and high risk of volatile prices with financing risk. It is fair to
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Thank you.
February 27th, 2007Committee meeting
Greg Stringham
Finance committee Thank you. I'm hopeful that, given the short notice, you were able to receive the package of slides and distribute them. Is that correct, Mr. Vice-Chairman?
February 27th, 2007Committee meeting
Greg Stringham