19:13:51 EDT Tue 10 Jun 2025
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Strathcona Resources Ltd
Symbol SCR
Shares Issued 214,235,608
Close 2025-04-29 C$ 25.52
Market Cap C$ 5,467,292,716
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Globe says Strathcona boss conjures "PetroCanada 2.0"

2025-04-30 08:37 ET - In the News

The Globe and Mail reports in its Wednesday edition that Prime Minister Mark Carney pledged in his victory speech to make the country an "energy superpower," reflecting the relatively pro-energy tone he took during the election campaign. The Globe's Emma Graney quotes Mr. Carney telling supporters, "It's time to build Canada into an energy superpower in both clean and conventional energy." Alberta's energy industry is skeptical. Strathcona Resources chairman Adam Waterous said that if regulations governing the construction of pipelines continue to hinder projects, "There is going to be no private-sector development of oil pipelines, of LNG facilities, of energy infrastructure." Instead, getting Canadian crude to markets other than the United States will fall to state-owned enterprises. "I believe the Canadian government is going to build more energy infrastructure through state-owned enterprises. The reason being is that a core idea of Mark Carney's campaign was moving away from the United States," Mr. Waterous told The Globe. He envisages a kind of "PetroCanada 2.0" but this time, it will be U.S. import tariffs -- rather than a global oil crisis -- that spur the creation of an agency to get Canadian oil to market.

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