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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 Jun 16, 2023 7:42am
155 Views
Post# 35499708

RE:Shocking stupidity

RE:Shocking stupidityYep - totally agree....

What concerns me as a tax payer is that every other subsidy I can think of over the years by Governments to fund an auto manufacturing facility ended up with the auto maker leaving and taxpayers left with holding the bag.

The problem?

Governments never negotiate penalties if the auto makers doesn't fullfill its part of the deal (especially when they pack up and leave later when things don't work out).

Besides, it's not like the Canadian Government is flush with cash.  Trudeau has more than doubled the National Debt since he gained power a few short years ago (well maybe they have been long years...lol).

The other thing is something I mentioned in a post a while back in terms of investing in EV makers.  Right now we don't know which of them will be successful.  Trudeau has made a big and costly bet with taxpayer money that he knows that VW will be one of the successful ones.  From everything I have read, this may not be the case.  Plus, unless most of the cars produced by VW in the deal are exported to the US, VW would have to significantly dominate the Canadian EV car market which is certainly not the case right now.
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