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Statement from Jason Hale on cancellation of Voyageur upgrader

STRATHMORE, AB (March 27, 2013): Wildrose Energy Critic Jason Hale released the following statement on today’s announced cancellation of Suncor’s Voyageur upgrader project: “Today’s decision by Suncor illustrates the difficult economics of upgrading raw bitumen for the energy industry in Alberta and underscores the inherent risk to taxpayers of directly subsidizing upgrading projects.

 “As a private enterprise, we respect Suncor’s decision to grow in a safe and financially feasible manner for their shareholders, employees and Albertans. However, it does highlight Alberta’s need for more market access. “In order for Albertans to get full market value for the resources they own, we need to have access to growing markets. That means more product distribution to the United States, eastern Canada and the west coast. “Wildrose will continue to push for fair value for our energy resources while protecting taxpayers from assuming unfair risks on upgrading and exploring ways of encouraging private investment in value-added ventures.”