Transport committee  Certainly. We're doing the math here, and I hope we will have it before the committee adjourns.

Transport committee  Yes, I can hear you loud and clear.

Transport committee  Great. Good afternoon. Thank you, Mr. Chairman and members of the committee. My name is Tim McMillan. I'm president and CEO of CAPP, the Canadian Association of Petroleum Producers. Our industry association represents both large and small companies on the upstream aspects of o

Finance committee  Certainly. We see the world demand for energy growing every year by about 1%. For oil that's about a million barrels a day on an annual basis. Where we're seeing the growth isn't in our traditional markets; it's in Asia, it's in India, and it's in Africa.

Finance committee  Today's capacity does not allow us to access the growing markets in the world in the way that we think Canada should as a supplier of choice.

Finance committee  I think Canada has a great opportunity to be a world supplier. The effects of us reaching that potential will be felt and the benefits will be felt, not just across Canada but in the countries that are seeing their middle classes grow. People today who are cooking over an open fi

Finance committee  I think it's a great question. When we talk about diversification, there are the LNG options off the coast. We have always thought LNG was a landlocked, North American phenomenon. We have 200 years' supply, as Mr. Dunn mentioned. There is a 60% growth expectation in Asia for natu

Finance committee  I think on a world basis, the commodities are traded freely. I think there are challenges in market access, which is a disadvantage to—

Finance committee  I grew up on a cattle ranch, and we saw the price of beef go up and down on a regular basis, as it does when a product is traded on a world market.

Finance committee  I think we are price-takers on a world market. As an industry, we hope our government has very robust and certain regulatory rules that are public so that we know how to operate in them and we can operate effectively in them. WorleyParsons has done a review that Canada has one of

Finance committee  No, I wouldn't advise that.

Finance committee  My knowledge regarding the reaction in North Dakota to the current price environment isn't as good as it is regarding the reaction in Canada. The Bakken oil field straddles the Canada-U.S. border. Part of it is in Saskatchewan and Manitoba, and the experience in Manitoba and Sask

Finance committee  I think that's part of it. We have seen rail connecting those two over the last couple of years. If I could, maybe I'll address what Mr. McGowan spoke about, which was that the refining capacity might not be linked between the heavies and eastern Canada, but there's a very grea

Finance committee  Did you say that production is falling?

Finance committee  We are expecting to see.... Investments are coming off, but projects are coming through the pipeline.