Natural Resources committee  When you mention that oil is currently trading at $50 a barrel, of course that's light sweet at WTI, West Texas Intermediate, market price, which is a North American based price. The market price for world crude stated at the Brent price is typically $2 to $3 a barrel higher, so we can move up that value chain by accessing that world price through access to tidewater.

Natural Resources committee  You'll see a gradient as price increases, with more in situ projects coming on when the price is right for the particular circumstance of the quality of the resource and the cost structure to develop that resource. What we're talking about as far as infrastructure to access tidewater is concerned, is positioning the country to take advantage of those prices sooner and to be able to develop resources sooner by attracting even a higher price to the base.

Natural Resources committee  First of all, I can't comment on the Center for American Progress, but we can move forward through the regulatory processes we have now and use those to communicate the fact that we are heavily regulated and that our industry is moving forward progressively to lower the carbon footprint of our production.

Natural Resources committee  As legislators, show confidence in the regulatory process and in the public engagement, the indigenous and aboriginal engagement, in the process as we move forward to approve these projects, and demonstrate and continue to reinforce that these projects are in the public interest and that Canada prospers from the development of our resource.

Natural Resources committee  Yes, I believe that Canada has world-class, stringent, environmental regulations that address every stage of the operation from initial entry onto the land right through to final reclamation of the site when the resources are extracted. I think it is world class, and we lead the world in those considerations as well as in implementing those schemes.

Natural Resources committee  I believe there is a public perception of this industry that we need to counteract through science, through evidenced-based facts. The product that we produce and the innovations that we're introducing into the scheme are producing a lower carbon footprint on the production side that is now akin to conventional oils, and we are closing that gap.

Natural Resources committee  Thank you, Mr. Chairman, for extending the invitation to us to present before this committee. As you mentioned, my name is Richard Sendall. I am the chair of the In Situ Oil Sands Alliance, and I am also the senior vice-president of strategy and government relations at MEG Energy.