Natural Resources committee  I think there is value to be added in resource sectors. In that regard the services, the green economy, and so on are also important priorities for our economic strategy, but given that we are going to continue to produce resources, my point is that we should add as much value up

Natural Resources committee  Certainly, sir, I could provide the graph and the sources for the data, which came from Industry Canada and from Statistics Canada. It is in a way interesting and ironic that Canada's exports have declined so dramatically as a share of our GDP over the last decade, which is preci

Natural Resources committee  Thank you. Well, the claim is often made that manufacturers in other parts of Canada have benefited from the oil sands development because of the inputs they sell to those projects. Now, certainly there are manufacturers who sell to those projects; that's without doubt. But the

Natural Resources committee  Thank you. In answering the question, Mr. Chair, I'd like to just clarify something for the record in regard to Mr. Trost's first question in the last round, where he asked Mr. Cross about the issue of building more refineries or not, and whether we should build more refineries.

Natural Resources committee  Upgraders are required in part to transport the production to the Canadian refineries. On the issue of whether foreign capital is needed to develop our petroleum resources, I don't think it is. Foreign capital can be thought of in a real sense or in a financial sense. In a rea

Natural Resources committee  In general, I agree with Mr. Cross's views earlier, that in the oil industry in particular there's a tendency to equilibrate prices between different markets because of the largely arbitrageable nature of the products. Oil from one place can largely be substituted for oil from an

Natural Resources committee  There's another dimension to the economics of upgrading, in the western Canada context, in the sense that again, the outlet for the production there is constrained to that U.S. Midwest market, which has been oversaturated in part with our own supply. When Suncor calculates the ec

Natural Resources committee  First of all, it isn't only manufacturing that has lost jobs through this process that I call resource-driven deindustrialization. As a result of the indirect impacts of a staples boom and then the financial market implications, particularly through the exchange rate of that boom

Natural Resources committee  Certainly, sir. Thank you for your flexibility. I just want to add one point to the comments my colleague Mr. Wilson made about the economic impacts, direct and indirect, of Canada's exports of unprocessed or barely processed natural resources, or what's known in the literature