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Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.


TSX:SU - Post by User

Post by Khersonon Dec 06, 2023 3:00am
289 Views
Post# 35770402

Yesterday's Trans Mountain Expansion Variance Decision

Yesterday's Trans Mountain Expansion Variance Decision
Post by Kherson on Dec 06, 2023 2:56am

Trans Mountain Expansion - Variance Application Decision

I had the opportunity to review the Variance Application and the various related documents filed up to the Commission's decision on December 5th. I am appalled with the Canada Energy Regulator's decision to deny the Variance!
In short, it looks to me that the Commission initially had issues with Materials, In-Line Inspection and Trap sites and Land Rights. In my opinion, the Trans Mountain final response filed on November 30th adequately answered any and all questions that the Commission had. 
What the Commision purposely overlooked in this variance application is that Trans Mountain put forward the basic argument that increasing the diameter of the pipeline tunnel from 42" to 48" in the section of the mountain where water flooding has already been proven to be an issue, could result in the project coming to a complete standstill! 
In essence, Trans Mountain was requesting permission to use 30" diameter pipe instead of 36" pipe in the reduced tunnel diameter so as to not require enlarging the present tunnel diameter and risk uncontrollable flooding!
I would hope that all shareholders of Canadian Oil companies take a close look at the material presented in this Variance Application and form their own opinions. 

Kherson

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