Industry committee  As I said, every industry has a regime under which it deducts and recovers costs. In the oil sands area, as you know, in the most recent budget one of those provisions--characterized by some as a subsidy--was removed. As I said, it doesn't look as if the overall burden on our ind

Industry committee  There's certainly a correlation between supply and price, ultimately. But as we've all discussed before, this is set in global markets. It's an 80-million-plus barrels a day market. So it takes a certain amount of movement to have an impact on that. Your question goes to the act

Industry committee  Mr. Thibeault, thank you for your question. As I said, the turnover, the revenue of the industry, is about $100 billion per year. The investment rate is about $50 billion per year. Obviously that fluctuates some with things like prices. You asked a question about subsidies. I t

Industry committee  I would entirely agree. What you stated is accurate. Our members have huge holdings in pension funds across Canada, in mutual funds across Canada. Most Canadians, one way or another, probably have an interest in, and benefit from, the activity of the industry. If I remember the

Industry committee  Our view on that is largely that on the crude oil side we have an extraordinarily well-integrated and efficient North American market. It's not perfect, obviously, but it is unusually well integrated by global standards. Most of the time those transactions are happening in a rela

Industry committee  I really don't have an answer to that question. We believe in competitive markets. Our members compete in highly competitive markets. We accept that some movement in price is part of the reality. Obviously, from an industry point of view, there are times when the industry is very

Industry committee  Yes, I could a little bit.

Industry committee  Mr. Carmichael, thank you. I'm afraid on some of these questions we go to the retail end. I'm apologizing in advance. I may be a frustrating witness before this committee. I really would refer to the folks who are expert on the retail end, and people like Mr. Boag, who was with y

Industry committee  My instinct would be that they don't have an influence over the price of a barrel of oil. They're out there competing in a global economy, with a global commodity, doing their best to be able to produce the product at a price that allows them to make a profit when they sell it in

Industry committee  I'm afraid I'm going to be frustrating again. I really feel bad about it, but again, on the refining end of the industry, it's really CPPI. Mr. Boag and those folks represent the refiners, we do not. I could not even venture to guess, because it's not something I follow day to da

Industry committee  Oh, no, I know you're not.

Industry committee  Yes.

Industry committee  Thank you very much, Mr. Chairman and committee members. We're delighted to be here today. I'm Tom Huffaker, one of the vice-presidents of the Canadian Association of Petroleum Producers. The Canadian Association of Petroleum Producers, or CAPP, represents the Canadian upstream

Environment committee  I'm happy to respond. I think we would come back to the point that we don't agree with the premise that environmental balance is not already in the equation in Canada. This country has an extensive set of federal and provincial environmental statutes and regulatory bodies, at b

Environment committee  I'm happy to start. Obviously the governing political bodies in Canada, represented in part by this group here, will make decisions on whether this becomes law or some part of this becomes law. It's our place here not to try to intervene in that role but to express our opinions