Finance committee  Thank you, Mr. Chair, for the opportunity to address the finance committee today. I represent Precision Drilling, a proud Canadian oil and gas drilling and well-servicing contractor. I believe the Canadian conventional and in situ oil and gas drilling industry has been an unint

Finance committee  First, with respect to the Canadian programs, the Canadian wage subsidy program is helpful. It's a short-term fix. Unfortunately, we have likely in front of us not just several weeks or months of downturn, but likely quarters, or maybe even a couple more years. The wage subsidy p

Finance committee  It's complicated. Energy production is complicated. I don't think we're in a world of simply no hydrocarbons. We're in a long-term transition. What really happened in Canada was that oil sands came on quickly, with several large projects coming on quickly and at the same time.

Finance committee  I think it has a much higher likelihood of returning. I think that while the federal government's investment in Trans Mountain was important to keep the pipeline moving forward, it was a negative signal for investors. Investors are looking to find commercial reasons to invest in

Finance committee  I'd say it's that, but I'd say there's a second issue that is kind of haunting us. I know that there are a lot of environmental concerns about oil sands, and some of it spills into conventional oil and gas production, but I think we need to be viewed in Canada as a friendly place

Finance committee  It does go back to where the capital is being directed. The industry is capital intensive. Creating energy, whether it's hydro power, solar power, wind power or oil and gas, is capital intensive. The fiscal regimes and the areas that attract the capital most aggressively get tha