RE:Reply from IR dept re CAPEXThanks for doing the digging with IR. It is always interesting to see who is actually in charge of an operation- the stakeholders (managers) or the shareholders (owners). In other words, do the managers consider cash flows to be theirs to spend at the expense of the shareholders? The jury is out here but I suspect there is some of that at play here. Particularly if they have a large internal projects team that have to justify their existence by building things at shareholder expense. The beast must be fed. With the major projects wrapping up, I suspect this is the case. The right answer is to downsize this group. So we have a good test case here to see how much management influence COS has at Syncrude. If they fail at winding back the planned 2016-2018 capital, they run the risk of butting up against their self imposed debt ceiling unless the oil price and exchange rate bails them out (which I assume it will) or they cut the dividend. Either way, the pet projects at Syncrude need to stop.