As Damage From Trudeau’s Failure Spreads, Suncor Energy Halts Crude Production Expansion

Suncor CEO Steve Williams said “There is clearly a question of confidence in Canada.” 

As I’ve said, the damage from Justin Trudeau’s pipeline failures won’t be contained to the Trans Mountain expansion.

Earlier, we learned that Calgary-based Crescent Point Energy is cutting their workforce by 17%.

Now, Suncor Energy has announced that any expansion of crude production has been put on hold.

As reported by the Globe & Mail, Suncor CEO Steve Williams made the announcement at a Barclay’s investor cofnerence.

Williams said the court decison blocking the Trans Mountain expansion was “troubling,” adding, “there is clearly a question of confidence in Canada.”

According to the report, “Suncor is currently ramping up production of its new Fort Hills mine in the Alberta oil sands and is due to decide in late 2019 and early 2020 whether to expand production at existing facilities, Williams said. “You will not see us approve those projects until we have more clarity on pipelines,” he said. “I would want to see actual, physical progress on the ground before I would commit.”’

This is unfortunate, but it’s no surprise.

If businesses can’t count on the federal government to defend the Canadian energy industry, they simply won’t invest. 

Suncor isn’t the first, they won’t be the last, and the damage from Trudeau’s failures is going to keep adding up.

Spencer Fernando

Photo – YouTube

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steve
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steve

It seems that Trudeau’s Liberals try very hard each day to come up with a new stupid of the day to out do the previous days stupid.
Play stupid games, win stupid prizes……

Glen
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Glen

No confidence in Canada because of our Prime Minister Jester Trudeau and no confidence or trust in him!!

steve richards
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steve richards

Is anyone surprised by this? We all knew that Trudy and Nuttley never wanted a pipeline built, they have told us so in the past. By buying it they could insure this and keep dancing around and hold out the pipeline like a carrot for the next election. Notice how the media has immediately taken the pressure off of “when will the pipeline get built” as soon as our illustrious leader bought it, it’s all under control now don’t you know. There is only one solution to this travesty. Start calling your MLA’s, MP’s of all party stripes and start… Read more »

Del
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Del

This is exactly what Trudeau and Horgan want. The eventual destruction of the Canadian resource industry and ultimately the destruction of Canada as we know it.

MaryLS
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MaryLS

What would be the end game? Destroy Canada for what purpose?

doug
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doug

ask trudy, he’s the one doing it.

Patrick
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Patrick

No one should be surprised. Trudeau has made it clear he wants to destroy Canada’s energy sector and so far he’s doing a great job of it. The only way things will improve is if we get rid of him and his destructive policies in the 2019 election. Let’s hope that’s not too late.

Ken (Kulak)
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Ken (Kulak)

The media part of the Laurentian Elite is already ginning up Trudeau’s hero status in the NAFTA talks in preparation for the 2019 election. MSM will pull out all the stops to achieve this and Alberta and Saskatchewan’s resource industry will just be roadkill to this bunch of post-nationalists.

Ron Voss
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Ron Voss

Halting crude production fits for a major oil industry CEO like Steve Williams who buys into man-made climate change and who has said we should start leaving oil in the ground:
https://m.youtube.com/watch?v=A6_gt-rUi_E

Catandog
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Catandog

It’s not just Trudeau. The distrust for investing in Canada, now a socialist country , is about the people of Canada. Canadians like Socialim. Why would any investor invest knowing the outcomes of socialism? If I was making a decision about Canada I’d look at the last election and the results. The fact is we are being gutted by ideology that has been taught the schools, universities, law courts/etc. Trudeau is collapsing our economic. It’s US, we voted for him knowing he was going to be a disaster….we liked his sunny ways. I’m hoping Berrnie has the fortitude to be… Read more »