Tomahawk, WI 04/30/2014 (Basicsmedia) – The CEO of Suncor Energy Inc. (USA) (NYSE:SU), the largest oil producer in Canada, criticized the United States Government for delays in sanctioning new pipeline projects last Tuesday, indicating that their dream of energy independence would not be achievable without oil from Canada.

Steve Williams, CEO, stated that the proposed Keystone XL pipeline, which is designed to carry crude oil from northern Alberta to the U.S. Gulf Coast, isn’t critical to Suncor’s plans of getting crude to market and that the delays caused by the U.S Government are not affecting the company’s production.

But he mentioned that the hold-up in sanctioning the pipeline, which is being vehemently opposed by environmental groups, has done some damage to sentiments toward the Canadian oil sands industry, in which they have a pivotal role.

Delays And Other Complications

TransCanada Corporation  (USA) (NYSE:TRP) anticipated 830,000 barrel a day Keystone XL project is stuck in its sixth year of waiting for a presidential permit from the U.S. Green groups are opposing the project because they believe that it would encourage further exploitation of the oil sands, where production is carbon-intensive, and a danger to water resources owned by the U.S.

Earlier this month, the U.S Government signaled further delays to the regulatory process, which would imply that no consensus is likely to be reached before their midterm elections in November.

Suncor’s Cynicism

Williams made a statement at the Suncor Annual General Meeting in Alberta, that there had certainly been an overhang on oil sands organizations due to the supposed restrictions on access to market.

He also mentioned that it was crazy to allow Canada’s future to be dependent upon a single customer especially when they had not been impressed by the way the Americans had been carrying out their business over the past few years.

Williams added that he did not believe that the U.S would attain energy independence but that North America could collectively be energy independent.

To guarantee market access, despite the final decision made on Keystone XL, Suncor Energy Inc. (USA) (NYSE:SU) has invested in rail capacity and has booked space on other pipelines, includingEnbridge Inc’s Line 9 to Montreal and TransCanada’s Gulf Coast project.

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