“My company will have a capital program that looks pretty similar to the program we had last year,” Alex Pourbaix said in an interview. “We’ll spend the better part of $1.5 billion, give or take, and that would not have been the case if the government hadn’t take action.”
Pourbaix also said he now expects the Canadian heavy crude discount to be closer to $20 below the U.S. benchmark in 2019, rather than $30 to $45 below.