RE:RE:RE:SuncorCardboard1 wrote:
Because when you are the largest player and the main culprit for a surplus then you should do something about it. 20% of their production being WCS is enormous vs most players and more than most companies entire production.
And by the way, all grades end up in the same pipelines which are now full and unless you noticed, synthetic has been totally killed in this rout. Then you have Suncor likely holding up quite a bit of space on some pipelines contributing even more to the problem.
Do you believe the current situation is good for Suncor shareholders? Certainly not when one looks at their chart/share price.
Waiting for more shipment capacity to arrive is irresponsible. What is at stake here is reputation. Reputation for the entire Canadian energy industry. When a reputation is lost, it takes an awfully long time to be rebuilt, if ever.
Same for a stock price, this a currency. Too many companies and managers wash their hand and say it is up to the market to determine the stock price. This is idiotic. When it makes sense to buy back your shares instead of expanding production you do it. You talk with your shareholders, tell them about your financings, what is going on, etc.
Cardboard
Suncor pays a great dividend and is doing major share buybacks. I think their shareholders can afford to wait it out.