RE:The ground rules have changedThat the politics are changing shouldn't mean that SU can't quietly increase production while pretending to care about green energy. For example, the hydrogen initiative makes sense to the company, so they can play that up. The reality is that this is incredibly political and unscientific, and there needs to be pushback. And the reality is that companies like SU and the AB government have some leverage. If we don't fight back against the climate craze, these companies will lose a lot of money because they can't increase production and focus instead on bogus targets.
Marner16 wrote: I have read a number of posts on the SU thread complaining about SU's move towards a greener future.
I can't blame the posters for their viewpoint as historically, an investment in SU has always been about investing in the ability of engineer to lower costs to the point where SU becomes a low cost producer. Sound thinking!
However, the writing is on the wall for companies in the O&G industry.
A year ago, the Engine # 1 fund didn't even exist. Last Friday, the fund picked up 2 seats on the XOM board. Tonight, we read that they may in fact get another seat on the board.
We also learned on Friday that a Dutch court ordered Shell to speed up emission cuts.
Both headlines followed the May 18th by the International Energy Agency that the world had to stop drilling for oil and gas immediately to avoid a climate catastrophe
On April 27th, Mark Carney, speaking at the Bloomberg Green Summit, indicated that banks will be judged on how they reduce their carbon footprint. This on top of the fact that environmentalists have been pushing banks to disclose their loan policies towards the oil industry.
On March 3rd, U S Energy Secretary Jennifer Granhom told Big Oil to join the green transition or be left behind.
The writing is on the wall folks. All of the above remarks clearly define the future of the oil industry in North America.
SU won't have a choice about reducing its carbon footprint going forward if it wants to survive and prosper. I'm not here to comment on whether I think that is right or wrong, but the ground rules have changed.