Suncor to leave oil in the ground, Notley made it too expensive to extract

in Canada/Other News by

Suncor is in discussion with Alberta premier Rachel Notley to leave oil in the ground from the Fort McMurray oil sands mines if it becomes too expensive, says CEO of the biggest oil sands company Steve Williams.

Rachel Notley’s carbon tax has started a wave of tax hikes, energy hikes, and will continue to hike over the next coming years, including your household bills and hydro bills.

Hydro bills will be going up as Notley tries somehow to bring back the $9 billion deficit she has created for Alberta.

Thousands of jobs will be lost if Suncor agrees to keep oil in the ground around Fort McMurray.

A report from EdmontonSun.com

 

Steve Williams says the energy giant is considering “stranding” some of its oilsands reserves if they are too expensive to produce or if they would add too much to their greenhouse gas emission intensity levels.

Williams says he’s optimistic that the government will endorse the idea, which runs counter to its traditional priority on developing as much oil and gas resources by insisting companies attempt to produce all recoverable barrels from their Crown-owned leases.

Simon Dyer of the Pembina Institute says he supports the idea, adding that it could help reduce energy demand in the industry and bring down emissions.

Dyer says it won’t be necessary to produce all of the crude in Alberta’s oilsands if the world can switch to renewable forms of energy in the future.

If Suncor shuts some of their doors it will anger many people, and it all leads back to Rachel Notley and her taxes increase ever since they got elected, will Notley’s polls down it highly unlikely they will win another term.