Finance committee  Both of those pieces of legislation, I would say, have hindered the investment and attractiveness of oil and gas in Canada.

Finance committee  In our view, the carbon tax, from a design perspective, needs to take into consideration emissions-intensive trade-exposed factors that help recognize.... If it's designed in a way that does not hinder competitiveness but still effectively gets towards the outcomes of achieving e

Finance committee  I appreciate your suggestions, absolutely. Deductibility of the capital cost allowance is actually the single greatest factor that has an impact on competitiveness, next to market access. It's not necessarily a reduction in taxes so much as it is a deferral of payment. It's espe

Finance committee  Thank you, Mr. Chair and members of the committee. Thank you for hosting me here today. I represent the Canadian Association of Petroleum Producers, which represents the upstream oil and gas industry in Canada. A strong oil and gas sector can help government achieve its priori

Finance committee  In addition to the market access support, our primary request is the immediate deductibility of capital expenses—100% is how we're framing the issue—and this aligns with recent changes in the United States. It actually moves the needle substantially from an investment perspective

Finance committee  The Department of Finance has also affirmed that the existing tax framework for Canadian oil and gas is not subsidized. It was in the 2017 Auditor General's report. Our assessment and analysis here, we think, clearly indicates that there is no subsidy issue for the upstream oil a

Finance committee  Thank you for the question. It's a good discussion. We view the northern opportunity as largely more of a nascent industry. There really isn't a strong level of production. There are a number of challenges that exist accessing that resource. You've listed many. Foundationally,

Finance committee  I'm happy to engage in this discussion. I'll start with the subsidy discussion and then perhaps we can get into the market access, some of those competitiveness challenges, if you will. I certainly appreciate the subsidy discussion. It's a good opportunity to really understand

Finance committee  For a number of reasons, Canada's oil and gas industry has experienced reduced investment and investor confidence over the past several years. In particular, U.S. tax and regulatory reforms are drawing investment south of the border. Regulatory uncertainty towards achieving great

Finance committee  I would definitely agree on the importance of signalling. Our members compete to raise money globally for opportunities. They definitely have projects where they like to invest and create the jobs and the wealth in Alberta and across the nation. Lately, the confidence has not ne

Finance committee  That's a good question, Mr. Chair. There's a role for governments—and our industry is working toward it—to help inform and educate. That's where I was going with defining the vision for Canada's oil and gas globally. We need to add a bit more context regarding what future energy

Finance committee  Thank you, Mr. Kelly. Through the Canadian system, we seek to advance effective outcomes that focus on regulatory systems. Essentially a good regulatory system needs to provide the confidence and assurance to the Canadian public that the social and environmental outcomes are me

Finance committee  The rapid amortization of capital is one of the biggest levers available to the federal government to encourage large-scale investment particularly for natural resource industries. It was widely used and has been in place since the oil sands were established in the 1990s, with th

Finance committee  I am sorry, Mr. Chair, I did not hear the question.

Finance committee  The opportunity for Canada and the interest, I think, in the reputation globally really links to our strong commitment to regulatory stringency as well as environmental protection. My comment there really relates to the reality that our industry, the oil sands sector in particu