CERAWeek: ConocoPhillips exec extols oil sands

Kevin Meyers, president of ConocoPhillips Canada, greeted early risers at a breakfast on the second day of CERA Week with a chortle. Before discussing the oil bounty in Canada’s oil-soaked sands, he displayed a slide with a forward-looking statement, or corporate boilerplate on how whatever executives say shouldn’t be taken as an absolute.
“Don’t take anything I say too seriously and please don’t go out and make an investment decision on it,” Meyers said, generating plenty of laughter in a room full of charcoal suits.
He also joked that the small font in the statement was an eye test to see if anyone who ended Oil Day on Tuesday with a few nightcaps could read clearly.
Then he launched into an overview of the sands, which has been booming with old and new players interested in tapping reserves estimated to reach 170 billion-plus barrels of oil, which would be second to Saudi Arabia.
“This is a vast resources not just for North America, not just for Canada, but for meeting global oil demand,” Meyers said.