RE:RE:Tidal Shift in Global Asset Allocation Inbound to Canada
Experienced wrote: nukster....since you suggest in your post that I know sheet, please educate me.....
How does Glencore buying Teck's metalurgical coal assets have anything to do with an investment in SU?
If you are having problems with this answer, I suggest you spend time reading Teck's strategic plan where they clearly outline what is going on. To save you time, I will enlighten you. they are selling assets that don't have a long term growth path like coal and oil, in order to have money (billions) to develop assets (minerals) which will be needed in the global energy transition. What this means is that Teck, as a global company, has bought into the idea that the world is moving to a less carbon centric world which is the opposite of SU which is doubling down on oil.
None of this has anything to do with the conspiracy theories you seem to have bought into. It's just a very smart company (Teck) repositioning itself like it has done a number of times over the years and acting in the best interests of its shareholders. If the management of SU did the same thing with their current outsized FCF, I would be backing up the truck and buying SU shares.
With all due respect nukster, the next time you post, I suggest that you do so sober and carefully think through the implications of what you are talking about.
Batman, if you pay more attention to your reading instead of hearing yourself talk, you'll find your answer
Experienced: nukster....since you suggest in your post that I know sheet, please educate me.....
How does Glencore buying Teck's metalurgical coal assets have anything to do with an investment in SU? Nukster: Glencore is old school Swiss wealth that speaks fluent "Yiddish"
If they are buying coal in Canada, you can bet your your bagels the value of coal is increasing in the future. If the value of coal is increasing in the future, oil will increase as well. You should read and comprehend first before reply to Nukster. In this case, you got it wrong, again. You said Teck is divest out of dirty coal to get into green transition. Experienced: I suggest you spend time reading Teck's strategic plan where they clearly outline what is going on. To save you time, I will enlighten you. they are selling assets that don't have a long term growth path like coal and oil, in order to have money (billions) to develop assets (minerals) which will be needed in the global energy transition. What this means is that Teck, as a global company, has bought into the idea that the world is moving to a less carbon centric world which is the opposite of SU which is doubling down on oil. I actually posted this news days earlier, under the title 'Renewable needs Coal' Glencore buys Teck's Coal Asset The published reason why Glencoe bought the coal asset from Teck is to fuel the green energy transition. (Reuters) - A Glencore-led consortium deal to buy Canadian miner Teck Resources' steelmaking coal unit for $9 billion puts in focus the commodity giant's bet on the role of coking coal in the green energy transition. Teck didn't said they are moving to a less carbon centric world, you made that up. Teck now want to focus on metal mining. Glencoe and Teck have friction between them on the coal business and Teck chose this option to make their shareholders happy. Teck said: Teck, which will now have no exposure to the coal business, said it will use the proceeds to pay off debts, build new metal mines and return some to shareholders.