Thank you, Mr. Chair.
Thank you for an excellent presentation, Dr. Raymont. Keep up the good work. I think energy innovation is really part of the solution.
You had a slide about energy intensity not being the problem. You could argue, then, that the government's approach to intensity might be misguided. But I don't think you quite meant that, because if you look at the chart on the GHG emissions, the one that shows the intensity coming down—which is a good thing—but the total emissions in absolute terms going up, there is still a gap there. Of course, I think you're also saying that on the consumption side and in transportation and manufacturing, there's a lot of work to be done there as well.
I had a whole bunch of questions, but let me start with the question of innovation. In Canada, we have a very progressive tax regime with respect to R and D, but there are always concerns about the take-up of that. Tax expenditures of some $1.2 billion and $1.4 billion are going to the oil and gas sector.
A case that I've been making is that there's an argument that the $1.2 billion to $1.4 billion could be targeted at R and D innovation, because if we're going to accelerate that intensity so that we can deal with greenhouse gas emissions—which are actually, in absolute terms on this chart, projected to increase with the development of the oil sands—then there might be a case to be made for that.
And I'll just throw in two other questions, if I might. You mentioned and touched on the use of water, and everyone seemed to agree that it's an issue with the oil sands. We heard reports the other day that 90% of the water is being recycled. That doesn't add up in my calculus, because we've heard about the water tables in the Athabasca River region dropping. I don't know how the Athabasca River basin is facing these water table problems if 90% of it is being recycled. In any case, if you have any information on that, I'd appreciate it.
Secondly, carbon capture and sequestration are going to be a key part. Where are we with that technology, and how quickly can it be deployed in actual action in the oil sands, for example?