Suncor Energy Inc. T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and its Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicles (EV) stations. Petro-Canada has a network of over 1,800 retail and wholesale locations across Canada, providing customers with a wide variety of fuel and service offerings including low-carbon fuel options. It is developing petroleum resources while advancing the transition to a low-emissions future through investment in power and renewable fuels. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region, approximately 90 kilometers north of Fort McMurray.

TSX:SU - Post by User

Suncor Energy Inc. > SPR to be in paper barrels

<< Previous

Bullboard Posts

Next >>

Post by MigraineCallon Oct 19, 2022 3:15pm

304 Views

Post# 35034433

SPR to be in paper barrels

Unbelievable...

You thought printing money and inflation was bad?

It gets worse!

The way the new rules are now, the DOE is allowed to purchase contract futures for delivery of oil to refill the SPR at or less than $70.

So looking at the WTI calendar strip futures, if the market is pricing WTI around $70 for delivery in mid 2024, the DOE itself could get into the paper market in a big way buying back a few hundred million barrels of crude ON PAPER.

Sleep soundly America. Joe's got you covered.

In case of a real emergency, one even worse than a midterm election, there is no oil.

But he bought this fancy paper oil credit IOU to fight a war with...