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.

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Suncor Energy Inc. > What is really going on with oil?

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Comment by MigraineCallon Dec 08, 2022 7:07am

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Post# 35158339

RE:RE:What is really going on with oil?

I know right?!! When someone tells me to watch or listen to something for 2 hours, 99% of the time I move on.

With this one, you can learn more in 2 hours than what would take you 2 years to find out on your own and still not have a clue what really goes on and drives in the oil market.

The news we are spoonfed is inaccurate, filtered, slanted, and doesn't come close to the real truth of behind the hidden alliances, and motivations of those with the real power. Retail investors like us are like chickens pecking at scraps of odd seeds on the ground that are thrown to us, and happy to receive them thinking we are getting a balanced diet.

In the long run, oil is still bullish, with a very severe energy supply shock imbalance ahead of us, of all types of energy.

The next headlines that has not hit the news yet is the real motivation of all th esudden recent US direct involvement in Venezuela. They have stolen US assets, and have been under severe embargo since teh Chavez days. Now the US has recently turned a blind eye to allow oil shipments to Europe to keep the EU together, Chevron is now also set to ship 200 kpbd to the US, arriving soon.

The US refiners will shortly also look to approve shipments of US condensate to Venezuela, about 150K bpd. This is to provide diluent for the shipment of an additional 350 to 450kbpd of Venezuelan heavy bitumen to the US Gulf refiners.

Why would they do this? They either forsee an immediate shortage in heavy crude going forward, or perhaps they want to squeeze our diffs even more. Either way, there is no way for Canada to ramp up and provide the additional volumes of heavy crude they need, especially after Biden killed Keystone.