The Syncrude oil sands extraction facility is reflected in a tailings pond near the city of Fort McMurray, Alta. on Sunday, June 1, 2014. The Alberta Energy Regulator says it doesn’t agree with a presentation given by a senior executive earlier this year that pegged the cost of cleaning up after the oil and gas industry at $260 billion. THE CANADIAN PRESS/Jason Franson A new report suggests major oil companies have fared very well financially since oil prices crashed a few years ago. The Corporate Mapping Project report , released by Parkland Institute and the Canadian Centre for Policy Alternatives B.C. office, analyzed how the five largest oil producers have fared during the recent boom-bust commodity cycle. READ MORE: Calgary-based Suncor Energy reports third-quarter operating income of $1.56B Lead author Ian Hussey said Suncor, CNRL , Cenovus, Imperial and Husky have remained “incredibly profitable corporations,” banking and paying out to shareholders $13.5 billion last year. “There’s no question that the price crash had a major impact on the industry in Alberta, most importantly on the almost 20,000 workers who lost their jobs in 2015, but the Big Five are doing just fine,” Hussey said. “As highly integrated multinationals — […]
