Suncor CEO Warns Of Increasing Doubt About Canada As Investment Destination

“People are looking and saying, ‘can we invest here?'”

In an interview with BNN Bloomberg, Suncor CEO Steve Williams said the failure of the Trans Mountain expansion would be a big risk, damaging confidence in Canada as a place for investment:

‘“A big risk – it’s very easy to think [Trans Mountain is] just a pipeline,” Williams said, when asked what the risk is to the Canadian economy if the project ultimately fails. “What’s clear to me is there is a question of confidence in Canada’s ability to be able to develop – particularly this project – but on other issues as well.

“People are looking and saying, ‘Can we invest here? Can we have confidence that when we think something’s going to happen, it’s going to happen?’ I think it’s an important moment for Canada to demonstrate that we can get things built.”

Williams also said that talk isn’t enough:

“I continue to be encouraged by words but what we need to see are real actions.”

Added Williams, “We’ve got to start doing things that make Canada more competitive. That means more certainty around regulation; it means a more welcoming environment for business and taxation.”

Unfortunately, the Trudeau Liberals aren’t listening to those who actually understand Canada’s energy industry.

Instead, with new legislation on pipeline approvals (Bill C-69), the process is about to get even worse. Many have pointed out that getting pipelines approved under the new process will be almost impossible – as if it wasn’t already bad enough.

Meanwhile, we keep importing oil from foreign countries like Saudi Arabia, while investors look at Canada and see a country that can’t even correctly utilize our own abundant resources.

After all, hen the government shows more interest in pandering to radicals, enriching other countries, and letting foreign-funded special interest groups demonize the Canadian energy industry, why would anyone think investing would turn out well?

Spencer Fernando

Photo – YouTube

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Ron Voss
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Ron Voss

A well-paid oil company Executive who embraced man-made, er, people-made climate change and argued for the oil to be left (“stranded”) in the ground, that’s rich:
How big oil helped create “Leave it in the Ground” legislation by another name
https://www.therebel.media/how_big_oil_helped_create_leave_it_in_the_ground_legislation_by_another_name
Throwing up the white flag on climate change and then whining as to its consequences. Complicit as to its consequences.

NancyW
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NancyW

We need a real Canadian government, they are back to saying Trudeau might call a snap election again since he is falling in the polls and the pipeline, carbon tax, and NAFTA, illegal migration all look like failures, and he will slip further in the polls?? Andrew Scheers Conservatives think this might happen also. So maybe there is a change coming sooner hopefully if we get out and unify and vote Conservative, they did say they will build the pipelines, and maybe they can fix NAFTA, and the illegal migrant problem, maybe it will not be too late??

Del
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Del

Until the Liberals are removed from Government, I am looking at investments in other countries. Trump might be unpredictable, but the American economy is doing very well. Take a serious look at India or even S. Korea.

Clive
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Clive

If Turdo wanted to nationalize Alberta oil, his current manipulations achieve three things: 1) It drives the price down, so the cost to the government of nationalization would be lower. 2) Natives, Greenies and many average Canadians will be tired of the drama and view Turdo as a national hero. Even his dad’s “National Energy Policy was a failure. Turdo sees a chance to fulfill the Turdo legacy. 3) The Anglo Americans who support globalization will be able to use Canada as a pawn or rook to fight China, Russia and Iran in their moves to remove the U.S. dollar… Read more »

shawn harris
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shawn harris

Suncor CEO Steve Williams is correct only a fool would think that you could get a pipeline or any oil project approved in Canada, under this current Liberal government and its extreme anti business and anti oil agenda. Trudeau, before he was elected PM, went about being duplicitous towards the oil industry and deceitfully saying to the public, that he wanted pipelines built. While deliberately not telling either the oil industry or the public at large, that he was dreaming of the day he would see the oil industry shutdown and phased out. Now that Trudeau can almost see the… Read more »