The Financial Post reports in its Saturday edition in his 14 years at Suncor Energy, Steve Williams -- chief executive officer for the last three of those years -- has been focused on driving down costs. The Post's Claudia Cattaneo quotes Mr. Williams as saying in May, 2012: "The oil sands business is the ultimate marathon. It requires fitness, endurance, strategic pacing and discipline." When oil sunk to under $50 (U.S.), Mr. Williams was handed a chance to consolidate his company's dominance over the Alberta oil sands. As he launched a hostile takeover bid last week Monday for Canadian Oil Sands, Mr. Williams pointed out that Suncor is sitting on a cash pile and available credit of $12-billion, and a "fortress balance sheet." The all-share transaction is valued at $6.6-billion including debt and would increase Suncor's share of Syncrude to 49 per cent, from 12 per cent. Last month, Suncor purchased another 10 per cent of the Fort Hills project from French major Total S.A. at a distressed price of $310-million. With those moves, Mr. Williams, 59, is out to make Suncor's low-cost know-how the oil sands' new strategic advantage amid low oil prices that he believes are not going anywhere any time soon.