Suncor’s revised focus on oil production proof of need for emissions cap: Guilbeault

OTTAWA — Environment Minister Steven Guilbeault says he is more convinced than ever of the need to regulate emissions in the oil and gas industry, following a prominent CEO’s comments about refocusing his company on oil production.

Suncor CEO Rich Kruger told investors in a conference call on Aug. 15 that the company had a “disproportionate” focus on the longer-term energy transition to low-emitting and renewable fuels. 

He promised a “revised direction and tone” focused more on the immediate financial opportunities in the oilsands.

Guilbeault says the comments were extremely disappointing in the middle of a summer when global temperatures hit record highs and climate change is exacerbating wildfires across Canada.