Cenovus Warns Oil Sands Growth Is Drying Up as Policy Uncertainty Mounts

Cenovus Energy (TSX, NYSE: CVE) just posted one of its strongest quarters on record. Its CEO used the earnings call to deliver one of the starkest warnings the oil sands industry has heard in years.

Jon McKenzie told analysts on Wednesday that Canada's national conversation around oil sands development has become "myopically focused on the climate agenda" — and that the consequences are already playing out in the investment numbers.