Canada’s biggest oil sands producers are generating billions more in free cash flow thanks to a faster-than-expected pandemic rebound, but their cautious approach to spending it is disappointing environment-minded investors. Their strategy to repay debts and pay shareholders has won praise from investors in Canadian Natural Resources, Suncor Energy, and Cenovus Energy who are eager for higher returns. But greener shareholders warn they could divest or oppose management. The sharp recovery has thrust the companies deep into a debate on returns…
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