Natural Resources committee  The in situ sector is advanced technology and has a material impact on the economy. We are asking how we can work with you to have effective regulation, not more regulation, and how we can have access to capital. As a company, we have raised approximately $1.3 billion. CPP is our

Natural Resources committee  Good afternoon, Mr. Chairman and members of the committee. Thank you for the opportunity to share, and I think with some pride, what I believe is a great news story. Laricina is an example of a Canadian-founded in situ oil sands company leading in innovation to support the goals

Natural Resources committee  I think we did what Clayton suggested. We should start the discussion before we have any operations, so we did, about four years ago. We opened an office in the community, notwithstanding that there are larger companies in the region. It is staffed by people from the community. A

Natural Resources committee  I think every responsible company is focused on working within the communities they're in. The aboriginal communities in northern Alberta are the communities we're actively working with. Establishing a relationship of mutual respect is absolutely critical to a development. I don

Natural Resources committee  We're not in the mining sector, which is the historical oil sands. There are a large number of regulations with respect to utilization of water from the Athabasca River. What I know is that there are limitations with respect to low-flow periods. There are a number of areas with

Natural Resources committee  I think the discussion earlier was on stability within the tax structure. Change always causes a challenge with respect to maintaining competitiveness within the tax structure that exists. The support the government gives for minerals, whether it's mineral exploration or oil and

Natural Resources committee  Flow of capital is important because of the size of the programs. What might surprise in 2011 is that the increased expenditures will actually be larger in conventional oil and gas. On the theme of technology, horizontal drilling and fracturing technology will see an addition of

Natural Resources committee  Sorry, could you repeat the last part of your question? It cut out.

Natural Resources committee  Yes. CCS, or carbon capture and storage, is at an early stage, and it is an expensive technology. You're seeing the testing of that development now under way through a number of operations. So you're right. Can we be more efficient? I think the discussion this afternoon was aro

Natural Resources committee  Nuclear energy would be challenging if you were to use it for steam. It is very hard to transport steam over large distances. It's a possibility for delivering electricity to the grid, but that's certainly at a scale I've never looked at or can give much of an opinion on.

Natural Resources committee  Yes, please.

Natural Resources committee  The value of a refinery is driven by its location. Refineries that are close to consumption generate good returns. The challenge in Alberta, for example, is that we are so remote from the consumer in delivering the product. We export the crude to the U.S. rather than finished p

Natural Resources committee  We do what is expected, I think, of every company, and every company does their best to meet those goals. In Calgary, for example, in particular we focused on research in the University of Calgary. In the community of Wabasca, we've been active in working with the community and i

Natural Resources committee  When we have profit. The interesting thing—and we have this discussion with the board as part of our program—is we have no production. We're like an R and D company, notwithstanding the amount of capital. But we look at investment not just as hard dollars in a project, but in p

Natural Resources committee  It thins out the oil. The oil is viscous, and the way to reduce viscosity is.... There are two methods. Heat it up; temperature will thin the oil, so that it can be produced. The other method is to add a component that reduces the viscosity naturally, and light hydrocarbons will