Environment committee  These projections and scenarios that show the elimination of fossil fuels are total speculation; there's no evidence for it. They're projections made on simulation models to show a mathematical process of how you could possibly do this. China and India are rich, natively, in co

Environment committee  The way we think about this basic problem is that it's like any other form of utility infrastructure—for example, water infrastructure or sewage infrastructure—where value needs to be put on an avoided emission. The government is the only entity that can do that. It's started to

Environment committee  That's an important point. I think the United States is taking a much more realistic view of reducing emissions in terms of integrating carbon capture and storage as a solution. You know, for industries, if Canada is not competitive, then perhaps you could just shut down the fe

Environment committee  I do unequivocally believe that we have no alternative to the use of oil and gas to supply energy for the population of eight billion people, and that we need to capture the emissions from the use of that oil and gas and sequester it to meet our net-zero goals. Power generation,

Environment committee  With respect to carbon capture and storage specifically, the range of applications includes power, cement and fertilizer. It could also include the production of oil sands. This spans a wide range. The capital investment needed to build a carbon capture and storage device and the

Environment committee  Sure. Our perspective is that the binary that we need to eliminate oil and gas and do renewables is impossible. Renewables are made from fossil fuels. The copper that goes into solar panels is fundamentally made from diesel in the mining process. It is impossible to eliminate oil

Environment committee  It's completely outrageous to even say that. The history of the last century is that the human population has grown to eight billion people, and we've consumed ever-increasing amounts of fossil fuels to do that. Vaclav Smil, an eminent professor from the University of Manitoba,

Environment committee  Precisely. That's our view. We fully accept the goal of net zero. How does humanity reduce greenhouse gas emissions from 40 billion tonnes annually down to a much lower number, perhaps net zero? Carbon capture and storage allows you to directly capture the emissions of CO2 and se

Environment committee  It's an unprecedented challenge. It's absolutely extraordinary. In terms of carbon capture and storage, perhaps I can speak to that in a Canadian context and with respect to energy development generally. Ten years is a planning cycle for energy projects. If we endeavour today to

Environment committee  Yes, thank you. The basic reality of it is that fossil fuel demand by human beings is growing today on earth, and that it's very, basically, impossible to replace fossil fuels. We need to reduce emissions, so carbon capture and storage provides the means to do that, but it's als

Environment committee  Thank you, Mr. Chair, and thanks to the committee for inviting me to present today on this critically important issue. Carbon Infrastructure Partners is a private equity firm that is invested in oil and gas production, and we've also created a fund product to advance investment