Finance committee  On the first point, those statistics are actually from the Government of British Columbia. I can track those down for you. It's well sourced, and it basically looks at how, from development all the way to transportation, Canada by far has the lowest carbon profile. That's why I t

Finance committee  I'm not familiar with Iceland. It is a really budding industry in Canada. What's happening right now is that we're actually part of a geothermal alliance with a number of environmental groups that are partnering, really, in trying to see the feasibility of this industry. So we're

Finance committee  I think there are a lot of unknowns right now. I would just give you the example of Bill C-69. When you talk about the pipeline infrastructure that's desperately needed in Canada and will continue to be needed here, I just have to recall what Chris Bloomer, the president and CEO

Finance committee  I would agree. At the end of the day, it doesn't really matter what forecast you're looking at, although some are quite different from each other, depending on different stated policies. The reality is that the world is going to consume more energy. As Canadians, I know that we'r

Finance committee  Certainly. I remember quite vividly sitting in my office in the middle of June and getting the daily rig report. It gives me a bit of a synopsis of where the rigs are working across western Canada as well as the offshore side of the business. It was quite scary. There were six ri

Finance committee  The most important statistic to really highlight is how many of our “high-spec” drilling rigs have left. We estimate that about 28 of our most sophisticated drilling rigs have left Canada for destinations like the Permian, the Eagle Ford and other U.S. destinations.

Finance committee  I would say that this is a global business. We try to incentivize capital to come into Canada from all across the world. Capital is going to go to destinations that have the greatest return for investment.

Finance committee  I would say that when you look around the world, the Canadian basin has not performed as well as the U.S. basin or other international basins. That would be correct.

Finance committee  Well, I would add to that. I would say that because we don't have as much investment in Canada.... Let's be very frank: Canadians are the innovators when it comes to a lot of this technology that will allow us to reduce emissions. You can look at things like bi-fuel technology,

Finance committee  Thank you, Mr. Chair, for the opportunity to address the committee today. The world is changing so quickly that it's hard to keep track. Innovations in drilling and fracking have taken the world from a potential oil and gas shortage a generation ago to more oil and gas than we c

Finance committee  Sorry, Ms. May, could you just repeat the question again?

Finance committee  I wouldn't be the subject matter expert on that piece of the business, but certainly what I would say is that there is huge potential to go back to existing wells and assess the viability for geothermal. At the end of the day, a geothermal well is drilled in the exact same way as

Finance committee  On the good news front, one of the areas that we are taking a very particular keen interest in is looking at redeploying our drilling rigs, which have traditionally been used 95% of the time in oil and gas. We are looking at deploying those same assets, along with other oilfield

Finance committee  Well, it's very difficult to replace one of the largest portions of a country's GDP. Quite frankly, it has been one of the largest industries, I would say, if not in this kind of market but certainly in years past. It was the largest portion of the publicly traded market, such as

Finance committee  On the income tax, our industry has been in a position where we have had sizeable tax losses for the last five years, particularly in the oilfield service industry, which has not had positive earnings for the better part of five years. There are sizeable tax losses that will ulti