Thank you, Mr. Chair.
Thank you very much for the quality of your presentations. I much appreciated them.
My first question is for Mr. Stringham. You said that one half of the revenues generated by the oil industry was earmarked for Canada, and the other half, because of all the royalties, was for the oil industry. Of concern to us in the past two or three weeks, is the question of balance; if Canada and the oil companies each receive one half of revenues, who will pay the social and environmental costs? Will they be shared equally between oil companies and Canada?
The witnesses cannot assess the social costs. When I talk about social costs, I mean environmental costs.
This morning, someone told me that the boreal forest represented the lungs of the planet and that part of the forest was located in Alberta. She also told me that in Quebec, companies had to wait several months before obtaining cutting rights, whereas in Alberta, oil companies could obtain the same rights within one or two weeks.
The management of natural resources, such as forest and water, is not a federal jurisdiction. As Mr. Cullen mentioned, we are neither against profit nor progress, nor against a healthy economy, but once we will have tapped the well dry, who will pay for the social and environmental costs? This is something I am passionate about, and I have not been able to find out what the social and environmental costs are. Perhaps you can tell me.
How much does your industry invest in research and development, in the science and technology that specifically addresses the reduction of pollution and greenhouse gas emissions?