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. > Oil is cheap compared to gold

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Post by Torontojayon Apr 10, 2024 10:31am

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Post# 35981080

Oil is cheap compared to gold

In the 20 years from 2000 - 2019, 1 oz of gold could buy 20 barrels of oil.

From 1946 - 2021, the average is 16.53.

If we use any of these 2 numbers and with the recent surge in gold prices, we could see oil trade between $118 and $143 just to get back to mean reversion.

In other words, oil is very cheap relative to gold.

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How to interpret movements in the price of gold