Russia's grey fleet keeps it oil and gas exports moving[url=https://https://edition.cnn.com/videos/business/2023/04/24/russia-grey-fleet-oil-tanker-sebastian-pkg-ovn-intl-hnk-vpx.cnn][/url]
My point?
Saudi is dumping billions of dollars into new Chinese (18% of the world population) refineries to insure future sales
Russia is selling Urals oil under $30 per barrel and has created a ship-to-ship grey fleet to insure exports continue
The GCC ( Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE) accounted for 35% of India's oil imports (18% iof the world population) and 70% of its gas imports in 2022 in fiscal year 2021-2022
What is SU doing?
How is SU going to compete with $20's oil from Russia or Saudi's $10 well head cost which are land-linked and much closer to 36% of the world's population?
What are Alberta and Canada doing to support SU?
EV's are coming fast.
Much cheaper dispatchable (installed at site as opposed to long transmission loss) solar/battery storage solutions for the grid are coming fast to rich countries in Europe/USA (15% of the world's population) that can afford infrastructure changes.
Third world countries (most of the remaining 49% of the world's population) will soon be able to build dispatchable solar/batter storage solutions for a fraction of cost of building an oil and gas infrastructure.
I invested in a private Canadian company a couple of years ago that I believe will soon be able to hook up their technology to any energy source (oil/gas/nuclear/hydro/electric/solar/wind/hydrogen) which will slash the energy costs of large need customers (1+ MW) by 50% and eliminate the fear of power outages. The company expects their Enterprise Value will be close to 11 figures when they go public later this decade. My point is that if a retired old guy like me can find opportunities like this, what the helll is Suncor doing??????
There are so many better things people can invest in than Suncor. When you add in the fact that Canada and even Alberia have turned their backs on Suncor, I'm not sure there are many worse investments than Suncor.
Maybe I'm just stupid.