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Suncor Energy Inc. T.SU

Alternate Symbol(s):  SU

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

Comment by Experiencedon Apr 27, 2023 4:26pm
84 Views
Post# 35417928

RE:RE:RE:RE:RE:RE:Wow.....THAT was unexpected....

RE:RE:RE:RE:RE:RE:Wow.....THAT was unexpected....Not quite that simple.

Governments of all stripes in today's day and age have to wait for the regulatory process to play out and then decide whether to accept the recommendations or not.  So even with a new government in Alberta and for that matter a new one in Ottawa, at best it would take years for the Base Camp to become a reality and even then it is still not a slam dunk.

In the meantime, for SU this means delays and money to deal with the regulatory process.

I guess one could argue that SU must be confident that they will win the regulatory battle at least as far as Fort Hills is concerned or they wouldn't have bought out Total. That said, over the decades I have seen countless bonehead decisions by presumably smart people.  We have a classic example in the last year with Musk buying TWTR at its peak plus a premium and the latest valuation of the company is 50% of what he paid for it.
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