Natural Resources committee  I wouldn't say that there's a plan, but there are some positive signs. On the one hand, I see that there are policies to support green energy development, and other policies to support green renovation. On the other hand, there is a policy to support expanding the hydrocarbon se

Natural Resources committee  My maximum would probably be 5:30.

Natural Resources committee  Thank you very much. I'm going to be intervening in French, but I can take questions in English during the discussion. It's either way. I'm going to talk a bit about my professional activities. I'm speaking to you today as an environmental science economist and an academic ex

Environment committee  I believe that at this point, if we want to speed up our transition to carbon neutrality, as required by the IPCC, we need to take a highly global view of the oil and gas sector. We need to ask ourselves what to do in this sector, how to intervene, how to reduce its scale, and ho

Environment committee  I do. I would say that most major investors are agreed on that. The petroleum sector has a great deal of trouble in obtaining capital from major institutional investors because most of them have adopted policies that require them to withdraw from this sector, or at least no long

Environment committee  I would characterize them as a subsidy to the sector, and they're not going to go away. They're not going to go and extract elsewhere, because of the resources here, so the idea that we should protect ourselves from them fleeing is not a good motif. They're not losing money. The

Environment committee  It depends on what we attach the CCUS to. If we attach the CCUS to extraction and refining, and if it's the type of investment that needs at least 20 to 30 years to pay itself back, that lock-in effect will be tied to the volume of what you're extracting and what you're refining.

Environment committee  We need to discuss the cycle we are in. The industry cycle since 2014 is one of consolidation and restructuring. It's not a cycle of development, innovation and extending production capacity, except in the gas sector, where there are specific dynamics in British Columbia's Montne

Environment committee  Okay. I too consider the Trans Mountain project as an industry subsidy, insofar as the construction costs are at least four times as high as they ought to have been at the outset. The government paid an initial instalment of $10 billion. It was then announced that the private se

Environment committee  Yes.

Environment committee  It depends. For petroleum products, reduced carbon emissions can lead to increased use of the resource, which in the end will increase our emissions. It really depends on what is done. What's clear is that electrification eliminates carbon emissions, unlike every other form of

Environment committee  The determining factors will be the extent to which we need fossil fuels, and what we do with them.

Environment committee  If we're talking about what is being planned as a tax credit to the CCUS, then it's a direct subsidy to industry. This industry considers that the carbon emissions of what it sells on international markets are too high. It needs to find a way to reduce the carbon footprint of Can

Environment committee  Good afternoon. My comments will be about two specific instances of grants to fossil energy projects. I'll begin by talking about the tax credit for carbon capture, utilization and storage, CCUS. I will then say a few words about the Trans Mountain oil pipeline, which I believe