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Suncor Energy Inc
Symbol SU
Shares Issued 1,290,431,979
Close 2024-01-31 C$ 44.52
Market Cap C$ 57,450,031,705
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Globe says Suncor, rivals hear Alberta has water issues

2024-02-01 07:57 ET - In the News

Also In the News (C-ATH) Athabasca Oil Corp
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The Globe and Mail reports in its Thursday edition that conditions are so dry in Alberta that the government is negotiating with major water licence holders to strike voluntary water-sharing agreements in the Red Deer River, Bow River and Oldman River basins. The Globe's Emma Graney writes that it will be the most extensive water-sharing negotiations ever to occur in Alberta. Meanwhile, the fossil fuel sector is lobbying the provincial government to allow water to be moved between major basins, and permit the transfer of water allowances between oil and gas operators. On Tuesday Alberta Environment Minister Rebecca Schulz issued a blunt warning: "Right now, we don't expect that Alberta will receive enough precipitation to prevent a serious drought. We have to prepare for the worst." However, she said the oil and gas sector will not be singled out when it comes to reducing water use. Nor is the province considering changes to a policy that governs how much oil sands operators can withdraw from the Athabasca River. Ms. Schulz said: "This isn't really going to be about looking at one industry over another. All of us need to come together to look at where we can conserve water and where we may need to reallocate water."

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