Thanks again to Mr. Fox and Ms. Milutinovic for being here today, even from afar. It's good to see you again.
This morning the CBC released a draft report they received through access to information. It's a draft report from Policy Horizons Canada, a federal government think tank. The report states that “it is increasingly plausible to foresee a future in which cheap renewable electricity becomes the world's primary power source and fossil fuels are relegated to a minority status”. The report goes on to urge caution when it comes to long-term investments in pipelines and other oil and gas infrastructure, stating that such investments could be at high risk of becoming economically unviable as prices in renewable electricity further decline.
The story on this report quotes two experts in the field, Marty Reed, CEO of Evok Innovations in Vancouver, and Michal Moore of the University of Calgary, who we had as a witness to this committee earlier.
Mr. Reed is quoted as saying, “at a high level, I would say the vast, vast majority of what they wrote is not even controversial, it's very well accepted."
Mr. Moore is also quoted as saying that these are very realistic findings.
I have two questions. Would you agree with Mr. Moore's and Mr. Reed's statements that these findings are well accepted and realistic? Secondly, how does the NEB factor in the rate of growth of renewable energy sources on the demand for fossil fuels?