The Merging of two Petroleum 'Superpowers' will result in over 1000 jobs being cut. However, Suncor was quoted as saying that in the long term it can "drive more jobs" than either company could on their own.

Suncor spokesman Brad Bellows acknowledged that 1000+ job cuts can be a legitimate cause for concern. "There’s no question it’s been difficult in the short-term. It’s been difficult for everybody. Our goal has really been to move as fast as we can to remove uncertainty."

However, the long mid to longer term outlook is much more positive.

“With our new organization largely in place and our review of investment opportunities well underway, we expect to be in a position to begin translating strategy into action later this year,” George said. “In the mid- to longer-term, that will mean more investment in Canada’s economy than either Petro-Canada or Suncor could have accomplished individually. We expect the benefits of this merger to become increasingly clear to our shareholders, business partners and Canadians.”

This merger will likely translate into many 1000's of new jobs in 2010 and onwards.