Suncor CEO Rich Kruger says he is aware of the regulations and says the company is meeting its obligations.
But when asked what impact the regulations will have on Suncor's products, he said he hadn't looked at them in great detail yet. The regulations took effect earlier this year, requiring companies that refine or import gasoline and diesel to offset their greenhouse gas emissions by investing in clean technology and renewable energy.
Kruger is in Ottawa today speaking at the House natural resources committee to explain comments he made this summer about reducing his company's emphasis on the transition to lower-emitting energy sources. Kruger says his comments were misinterpreted as Suncor ending its commitment to curbing its carbon footprint, when the focus is really on ensuring the company is making healthy profits now to be able to afford the required investments in decarbonization.