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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

Post by MigraineCallon Jul 24, 2023 2:05pm
155 Views
Post# 35554593

Future African demand growth

Future African demand growth

  • 1.3 billion Africans use about 4 million b/d of crude oil or just over 1 barrel per person per year.

    By way of comparison, around 375 million US and Canadian citizens consume 23 million b/d, or over 22 barrels per person per year. 
     

  • African countries collectively produce about 7 million b/d, resulting in net exports of around 3 million b/d to the Rest of the World. 
     

  • The USA plus Canada have combined oil (liquids) supply and demand of 23 million b/d. Our exports to the Rest of the World net to zero.  
     

  • A continent that uses around 1 barrel per person per year is actually providing oil for the Rest of the World, which currently consume far more oil than does the average African.  
     

  • The richest region in the world, the United States plus Canada, exports net zero oil to the Rest of the World and is facing intense pressure to actually produce less from left-of-center politicians and activists. 

  • USA consumers shift toward circa 70% SUVs/30% light cars from the opposite 30 years ago. This wipes out the majority of government-mandated fuel economy gains. 
     

  • Primarily European institutions and climate activists aggressively seek to stop a singular oil pipeline from Uganda to Tanzania located within a continent using 1 barrel of oil per capita. 
     

The energy transition as currently being attempted is devoid of economic and social justice for the least fortunate in Africa. 
 

There is significant scope for African nations to improve economic outcomes and living standards for their citizens. Improving to a measly 3 barrels of oil usage per capita would net 8 million b/d of oil demand growth in Africa.

https://arjunmurti.substack.com/i/135321405/q-shouldnt-africans-have-the-opportunity-to-demand-a-nd-barrel-of-oil-how-about-a-third-barrel

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