Time to blow it upI have been supporting the Elliott Investment Management agenda of selling off Petro Canada.
In fact, I have suggested that SU take it a step further and sell off their refineries while they are at it.
My belief is that selling off the downstream would allow SU to focus on its core competency which is mining and upgrading.
I have changed my mind about SU's core competency. I don't think SU has a core competency as they continue to botch operations. The problem is much deeper than safety issues and I don't think bringing in a new CEO is going to fix the problem.
I hope Elliott blows it up and sells off the parts. I would be shocked if shareholders ended up with less than $60 per share which looks pretty good right now