Finance committee  I'll talk for Suncor. I would say first of all that we do a lot value-added, so we do run upgraders. As I mentioned at the start of my comments, we are in the refining business, so we like to add value wherever we can within Canada. One example where we'll be able to improve that I think is the reversal of Line 9 and being able to take crude oil into our Montreal refinery.

Finance committee  I'll let others comment on this as well, but I would say that this is a good time for building additional market access. I think it does have some implications for value-added as well as export.

Finance committee  They certainly have impacted the plans. I think there are two parts to the answer. One is that we have deferred two fairly large projects as a direct result of the current downturn. We hope to, and I think we will, pick those back up in subsequent years. On the other hand, we have two major long-life projects, in terms of Fort Hills in the oil sands, and Hebron off the east coast of Canada, which we are continuing to invest in.

Finance committee  The quick answer to that is no, we don't. We look at short-term prices. We think for 2015 we're going to be in similar pricing to what we see today.

Finance committee  I think we do see some form of recovery, post this year. Then, of course, we look at the long-term price. From that we would have higher than today's price.

Finance committee  I would say that is one data point. We would look at a range of different viewpoints and different data points. The one thing we do know is that none of us can predict a spot price for oil at any time in the future. The one point I would make is that we believe that we've seen the return of volatility.

Finance committee  Thank you, Mr. Chairman, and good morning, everyone. I appreciate the opportunity to appear before you today. My name is Steve Reynish and I'm with Suncor Energy. As I'm sure you know, Suncor is one of Canada's leading integrated energy companies, employing thousands of Canadians from coast to coast.