Industry committee  Let me give you an example in another area. With profits growing exponentially in the market, there has been some scientific testing with a view to developing products such as liquid hydrogen. Several years ago in California, Shell set up a number of service stations, or added t

Industry committee  With respect to taxes and the oil companies, in terms of what has been happening elsewhere in the world, Hugo Chavez, as part of his oil revolution in Venezuela, raised the oil royalty from 1 to 16 per cent. They talked about that in the documentary that was shown on RDI last nig

Industry committee  There is no doubt that a refinery owner who is producing, say, 100,000 barrels of oil a day and sees that he is making more and more profit by maintaining a stable production… One may wonder why that company would really not be concerned about losing its market share if it's main

Industry committee  No, the current system fully complies with market rules. There is no problem in that regard. However, the warning contained in the O'Farrell report which, in the fall of 2005, made it clear to the government that Esso's system of publishing the price of its refined products ran t

Industry committee  The first oil shock occurred in 1973, at a time when the government was perhaps more courageous, in terms of taking authoritarian action, such as freezing oil prices. In 2007, given globalization and company strength, it would probably be going too far to think in those terms, bu

Industry committee  Thank you, Mr. Chairman. I would like to thank Committee members for allowing me to make this presentation today. This marks the fourth time in four years that I have taken part in the parliamentary process. I have already seen most of you. I have been an observer of, and stake