Natural Resources committee  Thank you very much, Mr. Chairman and honourable members, for the opportunity to speak to your committee on behalf of our ICON group. Given that this issue is complex and that I am not bilingual, my comments and my replies to your questions will be in English. I apologize for

Natural Resources committee  Thank you for the question. I believe the important thing to note is that the market will not respond today, and it isn't responding. You see now there are no projects being built other than some very small-scale ones. That's because fundamentally the costs are dramatically high

Natural Resources committee  Yes, but I hesitate to provide numbers on a per-barrel basis, because it's highly dependent on how much of the carbon dioxide you choose to capture. If you choose to make a reduction of 10% in your carbon dioxide emissions, does that mean you only divide it over 10% of your barre

Natural Resources committee  Thank you for the question. The reality is as you described it: the technology is not what I would quite call mature. There is ready technology available today that can be used and deployed in carbon capture and storage and in the pipelines, but it is not as mature or as well un

Natural Resources committee  I think the important thing to remember is that Canada, in the current situation, is emitting 700 million tonnes of carbon dioxide per year. As indicated by Dr. Layzell, in our industry, in the upstream oil sands production industry, it's in the order of magnitude of 25 million t

Natural Resources committee  The comment we made regarding legislation is that the policy for carbon dioxide reductions has to be put in place with respect to the targets for emission reductions in the economy in general. Also, we need to understand how the regulation for the potential for trading of carbon

Natural Resources committee  Yes, and it's not just the targets, the entire set of rules and regulations is needed, including emission reduction targets, availability of credits, availability of rules around storage, monitoring for the storage, and the transactional activity that would take place around carb

Natural Resources committee  That's a very valid question, and I appreciate it. I think the key thing to remember is that it's a question of scale. If Canada wants to make significant reductions in its emission levels, many of those alternatives that you talk about are going to be very valid ones. The whole

Natural Resources committee  Thank you for the question. With respect to carbon capture and storage not being mandated, our view is that companies need to be allowed to choose their approach to meeting climate change reduction obligations. For some companies, carbon capture and storage may be the sensible a

Natural Resources committee  That would be a signal, obviously, but the signalling that we're looking for is a positive step forward, suggesting that the governments are willing to collaborate and work with us to develop the right kinds of policies that will allow for carbon capture and storage to be deploye

Bill C-30 (39th Parliament, 1st Session) committee  Thank you, Mr. Chairman. Good morning, honourable members, and thank you for the opportunity that you've given Mr. Wishart Robson, from Nexen, and myself, to speak to the community on behalf of the ICON Group. Since this is a complicated subject and my French isn't very good, my

Bill C-30 (39th Parliament, 1st Session) committee  We haven't done that assessment, so I can't answer that question.

Bill C-30 (39th Parliament, 1st Session) committee  No, I haven't looked at all the companies recently.

Bill C-30 (39th Parliament, 1st Session) committee  In answer to the second part of your question, we believe companies should be given the opportunity to comply with whatever mechanisms they choose. For some companies carbon capture and storage may be the right approach; for other companies they may be able to achieve compliance

Bill C-30 (39th Parliament, 1st Session) committee  It's an excellent question. In theory, going at some of the existing facilities could conceivably be cheaper, because we have some hydrogen production areas where we have relatively pure CO2, and you may have heard that capturing CO2 from hydrogen plants already there is easy t