Good day, gentlemen.
In September 2009, G20 leaders acknowledged the following: Inefficient fossil fuel subsidies encourage wasteful consumption, reduce our energy security, impede investment in clean energy sources, and undermine efforts to deal with the threat of climate change.
Following that, Canada committed to completely eliminating tax deductions for oil sands projects. Three hundred million dollars per year was the figure that was quoted. Apparently, according to research by the International Institute for Sustainable Development in Geneva, these tax deductions amounted to $1.3 billion per year, in fact. You are therefore aware that Canada should further commit to reducing these deductions.
On this point, Mr. Wright, you referred to the new THAI technology, saying that your operating costs are lower. Is this good news in that you could do without these tax benefits from the Government of Canada?