Environment committee  Yes, but there is regulatory uncertainty south of the border as well. I think if we were to add on something that multiplied the regulatory uncertainty in Canada, my point was that this would be a death knell for anything, and soon, such as for upgraders where people just say,

Environment committee  Obviously, we need to align with what's going on in the U.S. As was stated earlier, our automobile industry is integrated and our energy systems are integrated. We need to reflect that in the policy we put in place here. Yes, we need to be comparable to and aligned with the U.S.

Environment committee  I'll take the last one first. The reason why some of the upgraders have been cancelled is because of the underlining economics of it. It's already marginal or worse to upgrade the oil, the bitumen, in Alberta relative to adding an upgrader onto a big refinery in the U.S. I mea

Environment committee  In my view, the right way to look at a target is how much you have to do to get from where you would otherwise be to where you're trying to get.

Environment committee  Right. After 1990, Eastern Europe's economy collapsed and their emissions with them. Germany folded East Germany into Germany; so, wow, they have a lot lower emissions. The U.K. switched from coal to gas and deindustrialized; got into the banking industry. So their emissions ac

Environment committee  Right. I disagree with you on the extent of reductions from climate change-specific actions in Europe. I mean, it is true that they tax their gasoline consumers heavily and that they have lots of mass transit and all that stuff. They do a lot of good things. But the big reductio

Environment committee  Well, it doesn't matter who cares. I'm just saying that their business as usual gave them lower emissions in those two countries. Their population is basically stagnant. They don't have growth in energy-intensive resource industries in most of Europe. Their business as usual is

Environment committee  There are balancing forces. But there is no set of policies with enough public support to get you anywhere near this. It would raise the level of policy uncertainty dramatically. We wouldn't have a framework to ramp up with our competing trade partners. We wouldn't have people in

Environment committee  The recession-induced reduction is like the Russian solution, where their economy collapsed and their emissions went way down. If you force a reduction in carbon dioxide that cannot be met by capital stock turnover in implementing more efficient equipment and new technology, then

Environment committee  Thank you, Mr. Watson. I think we can give some examples. If Canada were to commit to that target with the implication that somehow it's going to be mapped down onto the various sectors of the economy, I can't imagine anybody building another upgrade or refinery in this country.

Environment committee  We are exposed to competition at the import points, so if the refineries in Canada faced a huge carbon charge relative to their competitors in the U.S. or offshore, then we'd see a lot more imports coming in and refinery runs going down. Whether any refineries would close, I don'

Environment committee  We don't deal with the refineries. That's the CPPI, but--

Environment committee  I think it's worse than that. I think it's turning in your aces and pulling out deuces. To take on a target that is so much more onerous than any other country would even contemplate just puts you in a very awkward situation in dealing with how you're going to align with the U.

Environment committee  I confess that I haven't memorized all the other aspects of it. I consider the 2020 target to be a fundamental flaw, actually, in the whole approach. If you talk about putting an emission pricing system in place as opposed to a particular form of it, we've been working on that,

Environment committee  Thank you for the questions, Mr. Trudeau. Let me start with your point on technology. I think it's an important one and a good one. We don't know what the breakthroughs are going to be. There may be some fortuitous breakthrough that allows us to have lots of energy and low em