Mr. Hyndman, I am referring now to Bill C-311. It talks about economic potential. When the government decided to change the reference year from 1990 to 2006, were you relieved? The fact is that, even though the government invested money to get the process going, the oil companies benefited.
When I went to Calgary with another House committee to meet with companies like Shell, we were told that, given the state of current discoveries and research, it will not really be possible to make significant reductions in CO2 emissions per barrel of oil that is produced. The amount of water used has dropped from 6 gallons per barrel to about 4½ gallons, but the amount of CO2 cannot really be reduced further. Is it your view that in order to reduce greenhouse gas emissions, the only real solution is to limit oil production?