Natural Resources committee  Okay. I just wanted to add to that a little bit, and that was that we actually have to put money aside for management of the waste. So we actually, in our financial modelling, put money aside to manage the waste ongoing.

Natural Resources committee  I'll give you an example. We have to do an environmental assessment. To do the environmental assessment, there are probably about six bodies that have to come together. They have to give me an overview of what I should do to check the environment to make sure it's correct. It would be really nice for those six or seven bodies to get together and give me a plan and say these are the issues that we have at hand, rather than me now putting in my site application and then negotiating with each one of them what should be done.

Natural Resources committee  I want to add something to that. Murray mentioned one thing that's happening in France, U.K., Russia, Belgium, Japan. They're all refurbishing their fuel right now, so they're reusing it; 95% of the fuel can be reused. The United States right now is looking at building their own refurbishing facility, and Japan is well into the refurbishing facility.

Natural Resources committee  I'd like to add to that. As a businessman, my biggest challenge is the regulatory issues. It scares the living death out of me to take four to five years. So my business model is nine years to build a nuclear power facility. There's no reason for nine years for this to happen. For some reason, we have a regulatory body that takes four to five years to come up with a “Yes, it's okay”.

Natural Resources committee  Yes. Thank you, Mr. Chairman. We have informed the provincial government, we've informed some of the ministers here in Ottawa, we've informed the community, and now we're informing the general population of the communities where the reactor is going. So far, as my partner says, we've had fairly good, clear sailing, and hopefully we'll have clear sailing with the regulatory bodies in making sure our applications get reviewed in a timely manner.

Natural Resources committee  Thank you, Mr. Chairman. Thank you, ladies and gentlemen, for having me here again. I don't know if you remember, but I was here a couple of months ago, when I talked about nuclear power for the oil sands. To date, we've moved along. I'll give you a quick overview of where we are today.

Natural Resources committee  Can I talk a little bit here?

Natural Resources committee  We've been talking a lot on different new technologies that we're hoping to get and to find. We have a technology now in nuclear power that's there. It has been around for 30 years. It has been made so cumbersome with regulations that it has now almost become not cost-effective.

Natural Resources committee  Correct.

Natural Resources committee  Yes, they're looking at coal. Hydro is not enough.

Natural Resources committee  Right now, most of them are using gas. The gas is highly volatile, so they're looking at using bitumen. They want to reburn the bitumen.

Natural Resources committee  Yes. With burning the bitumen, there's the problem of the CO2 gases, because burning bitumen produces substantially higher amounts than does burning natural gas. But for them, natural gas is a scary commodity because of the price fluctuations. They're looking at their concerns with how much gas is going to be readily available.

Natural Resources committee  I think there are about twenty, aren't there, David? There are about twenty different processes that they're looking at. They're all looking at different ways right now.

Natural Resources committee  We would love a tax on CO2 so that we would get those credits. It would make our plant a lot more economical, because we'd get those tax credits back. The nuclear power commission has made the licensing for this very complicated, so we would like to get the licensing a little more streamlined.

Natural Resources committee  You guys have seen these numbers before. There is an issue.