MigraineCall wrote: Thats easy.
Federal government policy on both sides of the border has been made to kill off the oil and FF industry.
Yet it has not only survived, but thrived in such a toxic business environment.
Once people and governments come around to realize the extreme costs and futility of implementing these anti oil carbon initiatives, we will stop overburdening ourselves with them. There will be a reality check, like what happened with all the over hyped ESG renewables investing.
The immense cost and disruption to mainly western economies from this dark 'transition at all costs' period will have cut far deeper than the doomsday fiasco of Y2K. It will be taught in school for generations as a case study where special interest groups took control of the ship, and have caused devastating climate/energy policy to be unleashed across the lands.
With the eventual realization and acceptance that we actually need oil, and that oil and FF will be around for as long as we will have civilization, rerated valuations metrics will begin to be applied to these businesses like SU, and end up comparable to valuations of similar industrial sectors.
Whether one likes it or not, the global thirst for oil and oil products is unsatiable and timeless. It is a mater of national energy security. Responsible oil companies are not going away anytime soon, and are in the meantime concentrating on upping their game in terms of environmental and best practices.
Experienced wrote: I agree completely with Joe's assessment but the fundamental question is still there.....how does that help oil producers like SU become darlings of the stock market and attract higher valuation metrics?