Thank you to all the witnesses for appearing, whether in person or virtually.
Ms. Kennedy, Professor Leach in his comments—I'm going to read from the notes he provided so it's a summary of his comments—says, and I think this is about the future benefits, how he's assessed the benefits of the oil and gas sector.
He says:
For a new, in situ facility, and assuming that oil prices remain at US$90/barrel, a prototypical project would likely continue to meet typical investment benchmarks of a 12%-13% rate of return even at carbon prices of well over $100/tonne, or equivalently with regulatory requirements for carbon capture and storage.
What's your assessment of that statement? Do you agree with it? What does it mean for Suncor in the future?