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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 Obscure1on May 03, 2023 8:53pm
136 Views
Post# 35428982

RE:The US Fed Raises Interest Rates

RE:The US Fed Raises Interest RatesI think you meant 25 -50 basis points.

Based upon JPow's comments today, I think any potential banking crisis is behind us as the safety net has held. 

JPow's explanation about how the tightening in the financial industry is assisting the FED likely means we have likely seen the last of interest rate hikes. 

The "needy" market wanted to hear the DONE wword out of JPow's mouth and didn't get it so the market sold off.  I think the deeper thinkers will realize that the FED is on top of things. 

In my mind, whether the FED does another 25 point raise or not won't do much other than alter the timing of a bottom and the following recovery.  

I think the FED has done a remarkably good job in the past year after being late to the game.  As such, I don't see a big  sell off coming.  A dip? Probably as the market has been pre-conditioned for a summer off. 

I think the layoffs in the auto industry are more about the transition as opposed to a market melt down.  I think the tech layoffs are due more to cleaning out the deadwood as opposed to a melt down as things keep moving faster and faster.  

I agree with JPow's statements that America pays its bills and it is unthinkable to consider the consequences of a failure to meet its obligations regardless of the games in Washington.

I think Elon has his finger on the pulse of the economy better than anyone as his data is current and comes in unprecedented volumes.  Elon expects "better days" starting in Q2 next year.  Given the market's history of front running financials by 6 months, I expect that we will see a shallow bottom in Q3 with a market recovery beginning sometime in Q4.

History has a way of seeing things with 20-20 clarity.  All other vision is subject to unforseen events.


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