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Finance committee Good morning, Mr. Chairman, and members of the committee. Thank you for hosting me here today for a presentation. The Canadian Association of Petroleum Producers represents the upstream oil and gas sector in Canada, which accounts for approximately 80% of total Canadian producti
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee Investment in oil sands was $34 billion in 2014. It is now $15 billion.
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee I am sorry, Mr. Chair, I did not hear the question.
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee The opportunity for Canada and the interest, I think, in the reputation globally really links to our strong commitment to regulatory stringency as well as environmental protection. My comment there really relates to the reality that our industry, the oil sands sector in particu
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee The rapid amortization of capital is one of the biggest levers available to the federal government to encourage large-scale investment particularly for natural resource industries. It was widely used and has been in place since the oil sands were established in the 1990s, with th
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee Thank you, Mr. Kelly. Through the Canadian system, we seek to advance effective outcomes that focus on regulatory systems. Essentially a good regulatory system needs to provide the confidence and assurance to the Canadian public that the social and environmental outcomes are me
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee I would definitely agree on the importance of signalling. Our members compete to raise money globally for opportunities. They definitely have projects where they like to invest and create the jobs and the wealth in Alberta and across the nation. Lately, the confidence has not ne
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee That's a good question, Mr. Chair. There's a role for governments—and our industry is working toward it—to help inform and educate. That's where I was going with defining the vision for Canada's oil and gas globally. We need to add a bit more context regarding what future energy
October 6th, 2017Committee meeting
Ben Brunnen
Finance committee For a number of reasons, Canada's oil and gas industry has experienced reduced investment and investor confidence over the past several years. In particular, U.S. tax and regulatory reforms are drawing investment south of the border. Regulatory uncertainty towards achieving great
September 25th, 2018Committee meeting
Ben Brunnen
Finance committee Thank you for the question. It's a good discussion. We view the northern opportunity as largely more of a nascent industry. There really isn't a strong level of production. There are a number of challenges that exist accessing that resource. You've listed many. Foundationally,
September 25th, 2018Committee meeting
Ben Brunnen
Finance committee I'm happy to engage in this discussion. I'll start with the subsidy discussion and then perhaps we can get into the market access, some of those competitiveness challenges, if you will. I certainly appreciate the subsidy discussion. It's a good opportunity to really understand
September 25th, 2018Committee meeting
Ben Brunnen
Finance committee The Department of Finance has also affirmed that the existing tax framework for Canadian oil and gas is not subsidized. It was in the 2017 Auditor General's report. Our assessment and analysis here, we think, clearly indicates that there is no subsidy issue for the upstream oil a
September 25th, 2018Committee meeting
Ben Brunnen
Finance committee In addition to the market access support, our primary request is the immediate deductibility of capital expenses—100% is how we're framing the issue—and this aligns with recent changes in the United States. It actually moves the needle substantially from an investment perspective
September 25th, 2018Committee meeting
Ben Brunnen
Finance committee Thank you, Mr. Chair and members of the committee. Thank you for hosting me here today. I represent the Canadian Association of Petroleum Producers, which represents the upstream oil and gas industry in Canada. A strong oil and gas sector can help government achieve its priori
February 3rd, 2020Committee meeting
Ben Brunnen
Finance committee Absolutely. Competitiveness of our industry has been a key factor hindering investment. Whether it's the overall cost burden on our sector related to market access, incremental costs, regulatory delay and investment uncertainty, those factors combined have put Canada at a disadva
February 3rd, 2020Committee meeting
Ben Brunnen