Suncor Abandoning Climate Shows Need for Oil and Gas Emissions Cap: Guilbeault

In an interview with The Canadian Press, Guilbeault called the August 15 comments by Suncor CEO Rich Kruger “disappointing,” particularly in the middle of a summer when “tens of thousands of Canadians” were forced to flee wildfires and global temperatures hit record highs in July.

He promised a “revised direction and tone” focused more on the immediate financial opportunities in the oilsands.

“To see the leader of a great Canadian company say that he is basically disengaging from climate change and sustainability, that he’s going to focus on short-term profit, it’s all the wrong answers,” Guilbeault said.

Kruger’s comments come almost a year after his company announced it would sell off its wind and solar power assets, ending its two-decade long foray into the renewable energy business. Earlier this year, Suncor expanded its oilsands operations when it bought the Fort Hills oilsands mine from Teck Resources and TotalÉnergies.

Draft regulations to eliminate emissions from Canada’s electricity sector were published earlier in August and are still in the comment period.

The oil and gas cap regulations were expected already, but Guilbeault acknowledged they have been delayed.

“It is a complex piece of regulation,” he said.

But the minister said they are coming, and industry has to do its part.

“I don’t think in 2023 you can be a good corporate citizen and not play your role,” he said.

The main body of this report was first published by The Canadian Press on August 29, 2023. |Read more https://www.theenergymix.com/2023/08/30/suncor-abandoning-climate-shows-need-for-oil-and-gas-emissions-cap-guilbeault/|

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