Okay, that's fantastic. Thank you so much. I wish I were there in person. I was, in fact, in Ottawa just three or four days ago, meeting with a number of people within government.
I am the founder of ARC Financial, which is the largest private equity investment manager in the energy sector in Canada. I'm also the former chairman of the Alberta Investment Management Corporation, which today is managing about $110 billion.
My background is primarily in capital markets, investment management with a specific focus and understanding of the energy sector globally and in Canada.
Policy and politics in Canada relating to our energy sector, I would expect most of us would agree, have been discordant and dysfunctional. There is a search under way, and I'm very much part of that, for what I think of as a unifying vision. That's happening at the Business Council of Alberta. It's happening at the Business Council of Canada. It's also happening at the Public Policy Forum. I'm participating in all of that.
What I wanted to do is a bit different, I think, and it is very important. What I want to do is very quickly outline the emerging trends in these policy discussions, for your benefit. Then there's a point I want to make that's specifically relevant to the 2020 budget.
The first theme that is clearly emerging is a shift in the mindset, to speak bluntly, among energy sector leaders, where they are clearly embracing a customer-first mindset. Basically, the view is that our customers want low-carbon, high-ESG products, and we can deliver. We have been delivering, but we really need to step it up and come through.
We've been reducing emissions significantly over at least the last 10 years, and this is accelerating. Most of you will be aware that in new oil sands projects, for example, the emission levels per barrel are coming in now roughly equivalent to what you see in the U.S. market for crude oil being refined in that market. We have now about 50% of Canada's oil supplies being produced within corporations that have committed to net-zero targets. That is extraordinary, and I'm not sure that a lot of Canadians appreciate that fact.
We also have an electricity sector that is the cleanest in the world, with 80% of our electricity being from non-emitting sources. We are a global leader in methane and methane regulations and reductions. We're a global leader in carbon capture and storage, and the oil and gas sector, very importantly, is the largest investor in energy clean tech in Canada, and it's exceptionally well positioned.
All of what I just said is one point, and it's probably my most important point, but there are a few other perspectives I want to quickly touch on. One is the realization that we are not solving for one variable. We can't simply solve for lower greenhouse gas emissions as a single variable. All these policy groups understand that, and they're reaching that conclusion.
There are environmental goals, but there are also economic aspirations, and that links to the funding of our social aspirations in this country. Very importantly, the other factor that is coming up repeatedly is what I'm calling governance excellence, and that is making decisions in a way where we're really able to preserve a high level of trust in our Canadian decision-making processes and maintain our social fabric, our sense of national union.
One perspective I want to mention, one choice of words, one set of words that is being used quite frequently is that, in a long-term transition to decarbonize, the last barrel to be phased out should be the best barrel, and the best barrel should be Canada's barrel. I specifically want to make you aware of that. A lot of different groups are rallying around that view.
There's another view about being global first and Canada first. We have to be very careful with strict compliance to international agreements that may well be incomplete and inadequate in areas that are of critical importance to Canada's interests and notably trade.
The last point is around clean energy and clean energy technology. Canadian industry aspires to be a global leader in clean energy technology. The industry and many industry leaders were extremely discouraged when the federal government rejected their proposal to create a supercluster around clean energy technology, and many people are still mystified by it. There already is a de facto supercluster in substance, and the discussion that's now occurring is around recommending, in a sense, what's been described as a megacluster, putting all this together and aligning it with Canada's national policy and emissions goals.
Thank you very much.