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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 Experiencedon Aug 28, 2022 4:17pm
188 Views
Post# 34925484

RE:RE:Best BB

RE:RE:Best BBIMO this is a great Board where many people are willing to share their knowledge and perspectives for the benefit of all and the list is not limited to Obscure, Migraine and myself.  To me this is the true value of having such a forum.  If one beleives that they have all the answers then they are doomed to make mistakes.  There is no substitute for the value of getting other perspectives from various people.  It simply helps you make more informed decisions.

I learned this lesson a long time ago back in the 80s when I was still young (sigh), I attended a conference on mining and oil and gas in Calgary.  Back then the darling of the Canadian oil and gas industry was a company called Dome Petroleum (the old guys here will remember the story).  The CEO of the company was a charismatic guy named Jack Gallager who could sell ice cubes to the Inuit...lol.  At the conference, Jack was the keynote presenter and made his usual pitch about what the company was doing in the Beaufort Sea and how there were elephant oil deposit there.

During this presentation, I happened to be sitting next to this old grizzled guy who was around the age that I am now or older (read very old). After Jack's presentation we got talking and he said that when he was young he was in the Middle East when they discovered the elephant deposits in Saudi Arabia and has been involved in oil exploration since.  He told me that there wasn't commerical oil in the Beaufort Sea.  He drew me a picture that looked like a Bell Curve.  He said there was probably some oil in the flat sections at either end of the curve but that the thick part in the middle was just sea water.  He said Jack was drilling in the flat ends and convincing investors that the same was true for middle part and that eventually Jack would go bankrupt since there wasn't enough oil there to develop.

Nobody else was talking about this and I was convinced that he was telling the truth so I took advantage of this chance conversation and made a lot money using derivatives like Migraine is doing now.  As it turned out this guy was 100% accurate.

I learned why you have 2 ears....2 eyes..and only 1 mouth...lol
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