Thursday, October 31, 2013 9:33:03 AM
The Fort Hills announcement was no surprise and the rumors have been flying for months that Total Energy had given Suncor the ultimatum of "Sh!_t or get off the pot". Suncor has done well to get the price for the project down below 14B.
How the Fort Hills announcement will affect share price is anyone's guess, but it is obvious that the books will change as the money starts to flow into the construction of the facility.
Startup of Fort Hills is slated for 2017 so there will be a drain in the next few years, which will last until Fort Hills is brought on line.
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