Al Monaco talks about advantages/disadvantages of heavy oil ENB's Al Monaco spoke at the virtual
2021 Scotiabank CAPP Energy Symposium today and said the following about the disadvantage and two advantages of heavy oil:
“On the oilsands and whether they have an advantage, I think they’re always starting from a tougher spot, given the distance from market but I think it’s going to be strong because there’s an inherent advantage in a couple of areas,” Monaco said, noting that oilsands projects produce for a longer period of time than shale oil wells, and oilsands companies have been on a multi-year cost cutting drive.
Monaco talked about future CAPEX spending for heavy oil:
“They’re going to need to see more transparency in terms of long-term price stability before any major ramp up in capital and also the egress picture needs to be fully solved and we’re helping with that,” he said.
Wynjoe asked if he is the only one that sees the potential. I think everyone is aware of the potential from cost cutting and improved egress but the street is likely going to maintain its "seeing is believing" attitude when it comes to SU.
Those of us that believe in SU will just happily DRIP away.