Suncor’s Failed Energy Transition Plan

Renewable diesel and jet (what other smart integrated oil companies are doing) is an energy transition plan that is fuel based. They’re complimenting their current portfolio.

Suncor’s energy transition plan comprised of wind power, solar power, and charging stations. That’s why Kruger said it was a fail. People in that space will be out of the job.

Keeping the retail side of the business is also a fail. Suncor makes oil and fuel and shouldn’t concentrate on what chocolate bar or energy drink to stock. The gas stations will be sold and anyone associated in the retail space will be out of the job.

Lots of redundancies in the Oil Sands space especially in the Syncrude operation. Advisors, production coordinators, R&D, and process development. There are no plans to develop anything in this space. Operation will be focused to make a barrel of oil until there’s no more real estate to mine. People in this space will be out of work.

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Disagree on retail, the BoD agreed to keeping it and investing extra capital into it after an extensive review was conducted 8 months ago. The entire board agreed to it. Additionally, it was pretty clear that there were not a lot of potential buyers. Most likely even less now considering the interest rates environment.

The blue hydrogen joint venture with ATCO is estimated at $5 Billion Dollars. The 13,000 BPD HRD project for Montreal was $1.3 Billion Dollars. LanzaJet 2,000 BPD SAF was $1.2 Billion Dollars. None of which received sanction. Imagine that when compared to buying partner share of Fort Hills.

I was part of Energy Transition for over five years at Suncor. I was terminated in July. I have already received two offers. One is in hydrogen for transportation. The other carbon capture.

Low Carbon has several silos and redundancy. Need to cut LanzaJet loose. Focus efforts on mini-FAME.

Meeting after meeting at executive level. Kruger must be contemplating something. At least he wants to. But i think he is getting resistance. Afterall BOD decides what to do. Wedont onow what they are talking about.

True…. Why is there an entire department at Syncrude coordinating the production of a SINGLE product?

Thread regarding Suncor Energy Inc. layoffs

Suncor’s Failed Energy Transition Plan

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