Page 4 - Suncor 360 - January 2015

SIMPLY STEVE
We’re navigating these uncertain times
The uncertainty that surrounds us is easily the biggest issue for the energy industry in 2015.
The world is changing fast. There are ever-increasing environmental and social demands – including those we place on ourselves – as well as the big political and economic issues that affect commodity prices, market access and the supply and demand of our products.
And while the stakes are high if we don’t prepare ourselves for what lies ahead, I like where Suncor sits today.
For starters, our strategy gives me confidence. It was designed for circumstances where we can buffer the volatile commodity pricing market with an integrated business model that generates revenue at every stage of the value chain.
Just as important is our strong balance sheet. Where others in our industry may have few choices when it comes to responding to pricing declines, we are well positioned because of the strength of our balance sheet and our integrated model.
As part of the executive leadership team’s preparation for the uncertainty ahead, we
did some scenario planning to look at the range of curveballs that could come our way. While we learned we are pretty robust under a variety of circumstances, we know we can’t take our eye off the ball.
Could there be an instantaneous flip to a different energy system? Not likely. Could there be a scenario in which demand for energy softens and supplies stay strong? Yes. But my view is the market is going to work. And the well-managed businesses like ours will weather the storm.
Until then, my ask of you is to embrace the change that comes your way in the months ahead. As Charles Darwin said, “It’s not the strongest of the species who survive, nor the most intelligent, but the ones most responsive to change.” So, be resilient, adaptable and have an unrelenting focus on executing your performance goals.
We’ll need every one of our 14,000-plus employees and contractors helping to manage the things we can control – safety, reliability, costs and our continued pursuit of operational excellence.
As always, thanks for your hard work and stay safe out there.
BUSINESS SNAPSHOT
48.00
36.00
24.00
95.00
80.00
65.00
6.00
4.00
2.00
Stock Price – TSE
Crude Oil Price
Natural Gas Price
12.00
50.00
0.00
October 2014
November 2014
December 2014
October 2014
November 2014
December 2014
October 2014
November 2014
December 2014
02
JAN / FEB 2015
360
CDN$
WTI US$/BBL
Henry Hub US$/mmbtu