Posted on 07/11/09
New Suncor to take cash-only approach to growth
CALGARY -- Chastened by the experience of the last boom, the new Suncor Energy Inc. will take a more subdued approach to building new oil sands projects.After a dramatic rise in costs swept across the Fort McMurray landscape in recent years, Suncor chief executive officer Rick George said yesterday the company will now build without borrowing, a strategic shift that will dampen its pace of development.
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