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Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

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 production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.


TSX:SU - Post by User

Comment by Wynjoeon Apr 19, 2022 5:26pm
128 Views
Post# 34614613

RE:Oil down, but most stocks performing well….

RE:Oil down, but most stocks performing well….Russian oil is still being sold,maybe to different markets but it's still there. High oil prices slows growth which puts pressure on higher oil prices. Many oil projects were put on hold or stopped altogether but are waiting in the wings,Cenovus White Rose comes to mind and that's way over 50 percent complete,but there are many. Biden is under pressure to reduce fuel prices with midterm elections in the fall and keystone can be put back in play, he has already given in to new oil leases on federal lands. Canada is already building a huge ev car manufacturing plant in Ontario and the gas guzzling cars are faster then ever becoming extinct. There is an oil glut and that hasn't changed, it's over producing that's been reined in and many are increasing production to avail of high oil prices. OPEC can turn the taps on high at any time,and alternative energy is gaining ground every day with protesters winning the war being against fossil fuel production. Biden has released multi millions from the spr and this can and I believe will be increased further. Nuclear energy is even being positively looked upon and with bay du nord soon spilling billions of more barrels into markets along with Venezuela ,Iran and many others the future may look grimmer than many anticipate. With that being said Suncor is a strong buy and hold but investors can never close their eyes to the fact that they are a tarsands company that has to pay carbon taxes and are being shunned by financial institutions who do not want protesters with placards on their doorsteps. Many less then a year ago unequivocally stated that this oil glut will last for a long time, nothing's really changed except paper pushers on wall street. Just sharing my thoughts, please feel free to agree or disagree, never fall in love with ANY stock. At this time I still believe in Suncor and will continue holding.
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