Suncor Energy Inc T.SU

Sign of the Times

[Experienced]

Before getting on with what I want to say....Some may call me elitist....I am not poor so perhaps I am different than the majority of people.

This evening, I went out of my way to fill up my full-sized SUV at 2.05 a litre whereas the price through most of day was 2.14.  The fillup cost me 90 bucks.

Earlier today my wife and I made the the decision to buy an EV and we are looking at what's available. We narrowed the decision down to a TSLA Model 3, a BMW i4 or a Hyundai Ioniq5.  Sometime over the next couple of weeks we will order one of them.

Why do I mention this?

Unless I am atypical ( perhaps I am ), this spells a sea change in the future market for oil demand for transportation oil.

[Chad123]

Good luck with your purchase. Would be nice if you would be kind enough to report back on what you buy, what it cost including charging system. Could be possible to use these to charge your house in the event that there is a power outage and you are fully charged. Likely that you will have an increase on insurance and more costly repairs if needed. I like the F150 lightening but already own a

[Experienced]

Thought I wouldget back to you... We put in an order for an Ioniq5 AWD Long Range with what they call is the Ultimate Package which includes a large of number of features including self drive options.  There is such a backlog of orders that we will not likely get delivery until the 2024 Model year which is fine with me since I didn't really want to buy one for a couple of years since I

[Chad123]

Thanks for the info. Very interesting for sure. If GM and Ford and no doubt Chrysler will be toast in a few years what about all that money the provincial and Fed put in for the plants not that long ago. How bout that battery boondoggle..... According to your sales guy, Asia wins and all others go the way of the dodo bird. So much for build back better.....

[Experienced]

Chad....agreed The other sleeping giant in all of this is Indonesia.  They decided not that long ago that they would not export any of the nickel from their vast reserves. If people wanted their nickel, they would need to use it in Indonesia. Guess what happened? Hyundai and TSLA were there in a heartbeat.  The Chinese (surprise surprise) were already there. I expect that Indonesia

[mrbb]

where does electricity come from? What fuel does mining equipment use to mine, process the lower class nickel ores    

[Experienced]

Yep You put the finger on the great hypocrisy!! So much of the electricity is actually produced from fossil fuels since nuclear is shunned. My investment strategy/concerns going forward is that the reliance on renewables (solar and wind) by the their very nature is undependable that that we will have problems in the future on the reliability of the grid.  That is why I have invested in

[w8asec]

With all due respect... I think you've lost sight of this situation....which is normal when you buy an EV..... You figure everyone thinks as you do. Also, you sold out of SU in early Dec. and have been trying to reconcile and justify that decision ever since... Why do you want us to sell out of O & G? Here's a few caveats... The EV market is a bit of a scam and may only represents a

[pooltec]

Na countries will just play the tarriff game again.  Assemble your cars here or else....

[mrbb]

i think ur wrong on this one. Electricity being cheaper than gasoline won't last long.   Early EV adopter is exploiting this price arbitrage window and it won't last forever.  Canada gets $23 bllion from gas tax, government wouldn't let that off the hook for EV. This time is different, oil profit ain't going into developinh oil project or building more refinery. 

[Experienced]

You make a good point about the gas tax revenue and it is possible that the oil price might stay around 100 a barrel for the foreseable future. That said - here's my take. If the oil price stays above 100 then we will see what the Brits have done and Governments around the world are talking about doing - a surtax on the oil companies.  This surtax would go a long way towards recovering

[Bigbear7405]

Site C will produce a lot of electricity

[mrbb]

expecting government to fix the high petrol price problem is oxymoron because they are the problem. Modifying Clint Eastwood phrase: Go Ahead, screw the consumer Surtax, windfall tax, carbon tax, etc only hurt the consumer. Yes, it would curb demand somewhat but we know petrol demand is inelastic until it isn't. I don't know where is that point. However, oil companies will surely

[mrbb]

Higher oil and gas prices may be permanent: former Bank of Canada governor (msn.com)

[vr6loco]

Don't leave out Tesla Model Y in choices.