Finance committee  It absolutely is in place for the manufacturing sector. The oil and gas industry did not receive the same full treatment at the time that was introduced, in 2018. This is the single greatest lever that helps incent investment in long-cycle, major capital projects. Notably, Atlan

Finance committee  With decarbonization, we are talking about a movement to low carbon. Our industry has invested pretty substantially there, from a technology perspective, to reduce our carbon footprint. There is technology in SAGD right now that could decrease the carbon footprint of our oil sand

Finance committee  The technology exists. It needs to be commercialized and it needs some support in technology development. It starts with support for our industry and recognition that we are part of the solution, and encouraging the investment not only in our projects but also in the technologies

Finance committee  Yes, I agree with you that the federal response to support the oil and gas industry has not been sufficient from our side of things. We've seen the government announce its $1.7 billion, as you said, for orphaned and inactive wells. I think that's helpful. We've seen liquidity sup

Finance committee  We were appreciative of the Bank of Canada's efforts. We're appreciative of their interest rate policy and we're appreciative of their liquidity. The federal government moved quite quickly, which we were pleased to see, in terms of unleashing the tools that were deployed in 2008

Finance committee  Thank you, members of the committee and Mr. Chair, for having me here today. I sincerely hope that you and your families are safe and healthy these days. I am the lead on fiscal and economic policy and oil sands at the Canadian Association of Petroleum Producers, representing th

Finance committee  When looking at the heavy price discount for Canadian oil down into the United States—that's really where the market is for our heavy crudes, largely the oil sands—what we have is effectively a supply and demand imbalance. We have oversupply for our product, with not enough capac

Finance committee  Thank you: $1.8 billion. That's excellent. You're doing some fine work there. There's been some good news on Line 3 today, with some of the announcements in the United States. We're hopeful that we'll see some favourable decisions as well going forward. I haven't seen the TMX

Finance committee  I do know that. I'm just digging it up right now. Our real GDP impact in 2018 was $1.9 billion. Our upstream GDP share was 5.6% of Canada's total GDP.

Finance committee  Yes.

Finance committee  Yes.

Finance committee  And that's the direct component, right? There are also indirect and induced contributions as well. From a federal perspective, our estimate is that there are probably 450,000 jobs related to our industry on a national basis. Certainly, the bulk of that is in Alberta, but we do ha

Finance committee  We do survey our members to understand the impact, from an economic perspective, of our supply chain across the country. In 2016-17, the value of that was about $2.2 billion outside of Alberta. That decreased pretty substantially from 2014-15 when it was $3.5 billion. The decline

Finance committee  Thank you. With regard to the interest expense item, we've heard some interest in exploring that from a government perspective. We want to make sure that government is aware that this is a priority for us. We definitely recognize the importance of the eligibility for interest ex

Finance committee  Absolutely. Competitiveness of our industry has been a key factor hindering investment. Whether it's the overall cost burden on our sector related to market access, incremental costs, regulatory delay and investment uncertainty, those factors combined have put Canada at a disadva