17:49:22 EDT Tue 21 May 2024
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Suncor Energy Inc
Symbol SU
Shares Issued 1,302,116,343
Close 2023-08-16 C$ 43.10
Market Cap C$ 56,121,214,383
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Post/CP say Suncor CEO seen as happy to cook the planet

2023-08-17 09:33 ET - In the News

The Financial Post reports in its Thursday edition that the man hired to turn around the flagging fortunes of Suncor says he believes the company has been too focused in recent years on the energy transition and must get back to the business of extracting oil. A Canadian Press dispatch to the Post quotes chief executive officer Rich Kruger telling analysts Tuesday that the company's board agrees with him that a "revised direction and tone" at the company is necessary. He said he believes Suncor must not neglect "the business drivers of today" in favour of future-focused, clean and low-carbon-energy pursuits. His goal to refocus Suncor's efforts on its oil sands assets comes even as the company has committed to achieving net-zero greenhouse gas emissions by 2050. His comments also come at the end of a summer in which global temperatures have soared to never-before-seen heights and wildfires exacerbated by climate change have wreaked devastation across the planet. "It's good to hear a fossil fuel CEO being honest about their intentions -- squeezing every last drop of oil out of the ground, even if it means cooking our climate and harming communities in the process," said Greenpeace climate campaign head Laura Ullman.

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