Stock Ticker

  • Loading stock data...

Suncor Energy Inc. (USA) (NYSE:SU) Seeks Improving Environment Performance; Cleans Tailings Ponds

Boston, MA 06/10/2014 (wallstreetpr) – Suncor Energy Inc. (USA) (NYSE:SU), the Canada based largest oil sands company, is making up for itself by cleaning the environment.

Valuable Resource

Suncor Energy Inc. (USA) (NYSE:SU) is busy with cleaning dangerous waste from the environment by pulling and directing them back into its operations. The company is reprocessing tailings water from surface mining at its oil sand facility to operate its local in situ plants in the northern parts of Alberta. However, for the act to really have an appreciable impact on the environment, it is necessary that the entire industry contributes.

Suncor Energy Inc. (USA) (NYSE:SU)’s director who manages the water and environmental matters at the company, Prit Kotecha, said that tailings water contains toxic components which are capable of great harm to the environment. He said that since this water is a waste, it can be utilized and transformed into a valuable resource.

Endangering Life-forms

As of now, the industry uses tailings ponds to dump waste water, sand, clay, toxins as well as bitumen which are left after the processing of oil sands is completed. The water in such ponds are a threat to all life forms including water life like fishes, other bird species in the nearby area and eventually the entire surrounding ecosystem. Statistics issued by the Alberta Environment and Sustainable Resource Development show that such tailings ponds are spread across a wide area as huge as 176 sq. km. This is roughly equivalent to the entire Vancouver city.

Kotecha said that the company’s move is part of the collaborative idea that was named Canada’s Oil Sands Innovation Alliance (COSIA). The joint effort, which was undertaken five years ago, aimed at speeding up environmental performance by forming and sharing technologies among the alliance. Some of the thirteen member alliance includes Suncor Energy Inc. (USA) (NYSE:SU), Syncrude Canada Ltd. and Imperial oil Limited (USA) (NYSEMKT:IMO). Together, the members have invested over $900 million, in around 600 projects.

Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing.

  • Recent Stories

    SignUp Now For Our Featured Newsletter

    Sign Up To Get Our Latest Stocks Alerts