Oilsands will be around for another century, says Suncor CEO – Calgary Herald

September 25, 2017

Despite unwavering environmental and Indigenous opposition to oilsands expansion, Suncor Energy chief executive Steve Williams predicts the sprawling resource will still produce heavy oil 100 years from now, pointing to bite-sized projects as the next wave of growth.

Williams said in an interview that Suncor is gradually “exploding the myth” that the oilsands is a high-cost albatross and an environmental offender. He believes the industry has taken strides on both fronts, noting Suncor can cover its operating costs and dividend at US$37 per barrel this year, besting its rivals.

“We’ve already got oilsands to a position where (emissions are) broadly equivalent to other crudes on this continent, and we’re in a position to take it to an even better position,” he said.

“If you think high-cost and carbon intensity are the issues, both of those are being removed as the major issues now.”