Suncor Energy Inc.
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Suncor Energy Inc.

19 sept. 2006 23h59 HE

Suncor Energy maps out vision for sustainable oil sands development

Fort McMurray, Alberta (September 19, 2006) — Steve Williams, Suncor Energy Inc.'s executive vice president, Oil Sands, today outlined for a government consultation panel Suncor's vision for the sustainable development of Alberta's oil sands.

"Our vision must be to develop the oil sands in a way that supports and enhances our quality of life," Williams told the panel. "That means ensuring we realize the full economic potential of this resource. But we must do so in a way that supports our communities and social fabric and also carefully manages the impacts on our shared environment."

Williams encouraged all stakeholders to think long-term about the opportunities presented by responsible development of the oil sands — including thousands of well-paying jobs, improved funding for social services and increased investment in environmental research and development.

Technology will help address some of the environmental issues facing the oil sands, Williams said. He outlined how innovations such as carbon capture and storage could advance the sustainability of the oil sands resource.  

He also identified the need for improved long-term planning in all areas of oil sands development to help address current and future challenges. These should include coordinated planning of expansion projects, building capacity in communities and improving the supply of skilled workers.

"By being responsible stewards of this vast resource, we can ensure the legacy with which we've been entrusted will continue to benefit Alberta and Canada for many, many decades," Williams said.

The consultation panel is comprised of members of the Oil Sands Multistakeholder Committee (MSC), which was formed by the Alberta government to gather input from Albertans about how they want the province's oil sands resource to be developed.

For full text of the presentation visit www.suncor.com.

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66® brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66® brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.

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For further information, contact:

Darcie Park
(403) 807-2585