Suncor Energy Wants Oil Limits Lifted

Suncor Energy wants the provinicial government to end Alberta’s production cuts.

Company CEO Steve Williams says the program free up pipeline space has reduced local price discounts, and shipping crude to the USA is no loner financially sustainable.

“The rail economics are seriously damaged, and a lot of the rail movements are stopping or have stopped,” Williams said Wednesday on Suncor’s earnings conference call with analysts. “That’s going to have the opposite impact to what the government wants.”

Williams also added that the production cuts are also impacting investor confidence in Canada.