Interventions in Committee
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View John McKay Profile
Lib. (ON)
Thank you, Chair.
To the witnesses, I particularly appreciate your being here, but I will direct my first questions to Ms. Strom.
Suncor is a really serious player in energy generation. You're a $50-billion corporation, which makes your revenues greater than those of the Province of Alberta. So it's really quite interesting that your CEO, Steve Williams, seems to have stepped out and started a really good conversation in conjunction with Ecofiscal on climate change and pricing carbon.
Currently in Alberta you're at about $15 a tonne for your intensity-based regime. What does that shave off the bottom line for Suncor?
View John McKay Profile
Lib. (ON)
I buy all of that. I'd be interested in knowing, and possibly the committee would as well, what that means to a corporation like Suncor in percentage terms or absolute dollars on an annualized basis.
There's a secondary question that comes out of that. We're all interested in a cleaner environment, and energy companies are no different from the rest of us. We all think we have to breathe. In terms of the intensity-based regime, does that come out of your research budget, such that you end up doing research? You set out here a whole bunch of things—good things, I would say—that Suncor is doing for the environment. It's not clear to me how those funds get allocated among issues directly pertaining to energy generation, particularly out of the oil sands, and what gets allocated to projects that are of larger environmental impact, such as looking after water and animals and all that sort of stuff.
Do you have any idea how that breaks out?
View John McKay Profile
Lib. (ON)
I don't wish to interrupt you, but the time is draining.
Given that I suspect that the information is readily available, could you convey to the committee the gross revenues that you receive on an annual basis and then disaggregate from those gross revenues the corporate social responsibility and environmental component, whether it's through the impact agreement or not, so we could have some sort of a feel for that?
I have a similar question for Suncor. I want to follow up on my question about how this $15 a tonne gets used. First, how much of it is from Suncor's bottom line, and how does it get used both to the benefit of the environment but also to how you do your work better? Second, do you know how much your CSR/environment budget is?
View Scott Brison Profile
Lib. (NS)
Thank you for joining us today and for your testimony.
Mr. McGowan seems to be issuing a challenge to companies, Encana and Suncor, that we could be doing more value-added and refining in Canada. What are the market impediments to making that happen?
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