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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 Oct 06, 2022 12:32pm
195 Views
Post# 35009741

RE:RE:Sold of all of my SU this week.

RE:RE:Sold of all of my SU this week.
Experienced wrote: I have been doing some selling this week as well and have raised my cash position to 40%.

In terms of your points regarding The Fed and Powell.....yep

The thing that people need to realize is that while interest rates have gone up by Central Banknrate hikes, as long as those rates are below the inflation rate, the policy is still stimulative.  Powell knows this and he also knows that he started too late and that is why he has changed his tune recently.

Sooooo....the bottom line here is that unless the inflation rate craters soon (ie the next two months), central banks will have no choice but raise rates by at lest another couple hundred basis points or more.

In the US, the impact of the rate hikes has been masked by a couple of things....

1......prior to the start of the rate hikes there were twice as many job openings as unemployed people so the impact of the rates was seen as a decline in the job openings - not actual employment. This lead many pundits to think that things were ok

2....due to COVID people had savings because they were shut in plus pent up demand to get outta jail and enjoy life.  This money kept things going for a while but those savings are essentially gone.  A lot of the pent up demand is now being fueled credit card debt anthis will
will end soon as well.

So when you put all this together it is just a matter of time before the sheet hits the fan and we move into a recession.

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