Natural Resources committee  There are two very important items. Once a project like the production of electricity from nuclear reactors is given the green light, there are all kinds of people who have to be hired to do the regulatory work, both in front of the CNSC and in terms of environmental assessment, the types of gathering of information, the huge amounts of work that go into that.

Natural Resources committee  Thank you, Mr. Chairman. I think there are a couple of things that have to be understood as well. The techniques that are being applied to the refurbishment at Lepreau and at Bruce are different because the models they're working on revitalizing are different. But in each case there has been a tremendous amount of research and development and deployment of new technology by the people from AECL.

Natural Resources committee  Yes, I have just a brief comment. First of all, there are a couple of places where uranium exploration and development have grown quite quickly. Canada used to be the largest known reserve area. It has been surpassed by Australia. Australia has taken off moratoria on some of their mining and expansion.

Natural Resources committee  Thank you very much. First of all, thank you for inviting me. I do apologize for not having prepared remarks. I have circulated some highlight information from our 2008 handbook. The 2009 one is now being prepared. We have publications on our website. We also have hard-copy publications, including World Energy, in both French and English.

Natural Resources committee  Yes, if I might.

Natural Resources committee  I'll stay a little longer.

Natural Resources committee  If you will consider the financial arrangements that are being made as a package in any event, I don't quite understand why you set 50% in legislation or otherwise. I think it's much easier to be flexible. You don't have to change the legislation every time there is an alternate financial arrangement brought from the market to the minister for approval.

Natural Resources committee  Eliminate it, yes, and that leaves you with maximum flexibility, and the minister can take a look at the arrangements and say good, bad, or indifferent. Certainly we then, as a market, looking at the market, can go out and say that we brought together the following arrangements, including whatever the percentage might be in alternate financial arrangements.

Natural Resources committee  There are two interesting elements here. One is that we look after the price of electricity for our ratepayers. We think that if we can get a better price for the cost of covering the liability we're required to cover, this will look after them. It seems that probably we're not going to have to resort to the taxpayers.

Natural Resources committee  I'm sorry...?

Natural Resources committee  I think we recognize that in terms of public policy, while there are real practical limitations like the ones you've just identified, we don't wish to be seen to be significantly out of step with the rest of the world. We look at having excess coverage. I do that on a personal basis.

Natural Resources committee  I think the bill covers the areas that it must for the purpose of protecting the public from any damages associated with an incident that may arise. I think the preference of our industry has always been to instill a safety culture, not only in its leadership but also among the women and men who work inside the organization.

Natural Resources committee  We are a safety culture first. We know how to manage the spent fuel. We know how to manage low and intermediate waste. We know what steps we must take to protect not only the people who work inside our plants but the people who are neighbours of ours outside the plants. Do I think this bill represents the protections they require?

Natural Resources committee  No, I'm not.

Natural Resources committee  Basically, the alternate arrangement would be a commitment to make payments. It really is a contractual obligation in the very same way as an insurance company makes a contractual obligation under a policy. In this situation, the alternate could be the position of a guarantee from a province, as was discussed with Madame DeBellefeuille.