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Bullboard - Stock Discussion Forum 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... see more

TSX:SU - Post Discussion

Suncor Energy Inc. > SPR to be in paper barrels
View:
Post by MigraineCall on Oct 19, 2022 3:15pm

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...

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Comment by Experienced on Oct 19, 2022 3:46pm
Yep 1.....if it is totally up to beaurocrats to play the paper game and especially with political masters, rest assured that the taxayer will be footing some big bills to cover their bets going bad or... 2....they get ptivate sector (read JPM or GS specialists) advisors who know what to do but will get advance notice of what the government is going to do and will line their pockets accordingly. ...more  
Suncor Energy Inc.
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