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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 marketsenseon Jan 27, 2024 2:21pm
116 Views
Post# 35848700

RE:ABSOLUTELY DISGUSTING: SUBSIDIES Of $ 4M Per EV FACTORY JOB

RE:ABSOLUTELY DISGUSTING: SUBSIDIES Of $ 4M Per EV FACTORY JOBFor those who choose to ignore history or just remain downright ignorant of it are and
will be bound to repeat it.  The disgusting level of virtue signalling has now put the 
whole country on the hook.  To go all in on what is essentially a gamble is both the
height of arrogance and stupidity.   It defies common sense.   We have other assets
and advantages to employ in this country that would deliver far greater economic
benefits than taking an outrageously expensive flyer on building a car battery plant.

We have a forest industry that if properly managed could be sustainable in perpetuity
and we have an oil & gas industry that is still viable and in demand as long as we are
willing to improve its GHG footprint.   If we want to paricipate in the car battery idea.
then go the route of supplying the raw materials for it.  Lithium,  copper,  nickel will
be needed and this is what we have plenty of expertise in doing.  Subsidies are not
required for these industries.

No one really knows the future of EV's.  There is already beginning to be a lot of push
back for a variety of reasons( don't have the space to into all of them here)  so what goes
for consumers should also apply to gov't.  Being cautious is appropriate.  Going all in
is unwise to say the least and IMO totally unessesary.  Thumbs down on this one.
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