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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 May 20, 2023 1:45pm
104 Views
Post# 35457854

RE:RE:RE:Plan B

RE:RE:RE:Plan BMarketsense...good questions...

Here's my take and why I was comfortable ordering an IONIQ5.

A lot depends on your driving habits and use of your car.

The batteries are warranted up to 8 years or 160K km and 3000 charging cycles

The range for the battery is as follows..

Warm weather...535km

Cold weather highway - 260km
Cold weather city -         355km

Now...

In the winter my typical day driving is between 60 and 100km
In the summer my typical driving day is 25-50km

This means that I really don't need to be worried about not having enough charge to meet my daily needs even in the winter where I have the greatest daily mileage use and the lowest effective range.

So in the winter I would need to charge the IONIQ5 2-3 times a week and maybe once a week in the summer.  This translates into about 150-200 charging cycles a year which means that I have 15-20 years of cycles available.  I never keep a car that long.

The next question is what about range for a road trip.

I don't take long road trips in the winter anymore.  Two of my kids live about 400km away and in the winter we usually take the train to visit them.  In the summer we have lots of range and even then the IONIQ can be charged in 18 minutes at a Level 3 charging station if needed.

For extended summer road trips, a typical day would include one stop to recharge the battery.
 But we would be stopping for lunch somewhere anyway.

In return for all this, my fuel cost since I will be charging at home at night is less than 15 bucks for the equivalent of a tank of gas and I have virtually no maintence costs like oil changes and brake jobs.  Tires will wear out a bit faster so that will offset a tiny fraction of the other savings.

Whether it makes sense to an EV or not comes down down to your individual driving habits and use of your car and the associated math.  In my case, the payback for the cost difference between the EV and a comparable ICE is about 3 years and after that it is all gravy.  Even there, I suspect that the price differential will narrow as EV production volumes ramp up.

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