Before I begin, on behalf of those of us in Calgary today, I'd like to acknowledge the ancestral territory of the people of the Treaty 7 region and also the home of Métis Nation of Alberta Region 3. While this short statement is quick and easy to make, it will take the dedicated work of all of us to make reconciliation a reality.

As an oil and gas executive with 40 years of experience, I could praise the transformational virtues of hydrocarbons over the past century, convey the world's dependence on oil and gas for decades to come, recite economic contributions to Canada's prosperity and, yes, discuss the concerning effects of climate change and greenhouse gas emissions. I can speak to these topics with knowledge and conviction; however, today I plan to dispel a series of myths and paint a picture of opportunity.

Myth number one is that oil and gas prosperity comes at the expense of the planet. I believe this is false.

Profits and the planet are not mutually exclusive; they're mutually dependent. The energy transition will take expertise, technology and funding: expertise in project planning and execution, which exists in the oil and gas sector; technology, which has been a hallmark of our industry since the early days of Spindletop or in Canada's case, Leduc; and funding from a financially strong industry, coupled with government support.

Myth number two is that Canadian energy companies are doing little on their own; rather, they are resisting the energy transition and decarbonization. I believe this is also false.

Canadian companies are among the world's most committed and proactive in reducing greenhouse gas emissions. We're literally putting our money where our mouth is. The companies here today, including Suncor, are spending hundreds of millions of dollars funding fuel switching and low-carbon power generation projects. They're making investments in energy efficiency, building and operating renewable fuels plants, and piloting technologies to lower emissions from in situ extraction. They are collaborating to advance a globally unprecedented carbon capture and sequestration opportunity, which is the oil sands' Pathways Alliance.

Myth number three is that Canada can demonstrate global leadership by restricting its oil and gas sector for the benefit of the planet. This is, perhaps, the most concerning falsehood.

The world will not consume one less barrel of oil simply because Canada chooses not to provide it. That barrel will come from somewhere else—in most cases, somewhere with less commitment to responsible development, democratic ideals, social accountability and climate action. How do I know? I've worked in many of the countries that hold the lion's share of the world's remaining reserves.

Now, here is the opportunity.

Canada is blessed with an abundance of oil and gas. It's number four globally in oil reserves. It's an amount that Canadians couldn't consume in more than 100 years. Hence, it has the opportunity to provide abundant, affordable and responsibly produced energy with lower emissions to people around the world, including allies that are increasingly concerned about energy security, and also to millions of others who require energy to achieve a quality of life that we take for granted. We can improve people's lives, increase Canada's prosperity and help tackle climate change. It's a winning proposition.

However, industry cannot unconditionally and unilaterally decarbonize Canada's oil and gas sector if, as a result, no one wants to invest in us or invest in Canada. It will take collaboration to create a stronger, safer, healthier and more prosperous world, with Canada as a leader in it. For industry, that's developing technology and investing in projects. For government, that's developing sound public policy and the enabling regulatory framework. Sadly, neither the requisite policies nor regulatory framework exist today in Canada.

Throughout history, Canada has punched above its weight around the world. Whether it was 80 years ago today on D-Day, with the landing at Normandy on Juno Beach, or sitting at the table shaping today's international climate accords, Canada has always been on the right side of history and has yet another opportunity to be there today.

Canadians expect more from their political and business leaders than pointing fingers and clinging to ideology. They expect their leaders to roll up their sleeves and work together to address issues, tackle challenges and capture opportunities. These are issues and opportunities that will determine their grandchildren's long-term health and prosperity.

If that is what this committee wants to do, I'm all in, and Suncor is all in.

Thank you, Mr. Chair.