Even the best minds can lose sight of the forestMC:
I'm pretty sure you are spending too much time focusing on the trees
The entire world (other than OPEC+ and myopic oil industry investors) wants what solar/battery storage is promising.
The math is irrefutable as the cost saving of transforming to solar/battery storage is staggering.
The lack of reliablily of renewables prevented the proliferation of renewables for a generation. With the advent of a drastic reduction in the cost of battery storage (down 85% in the last ten years and expected to drop by another 50% in the next 5 years) has made oil obsolete as a business model.
The oil industry initially claimed that there were not enough raw materials for batteries. That falsehood has been completely debunked.
Then the oil industry claimed that transmission line loss leakage and the cost of building transmission lines from wind and solar locations to areas of need would be prohibitive. The ability to have dispatchable solar (ie built anywhere) debunked that arguement as today's photovoltaic panels don't require direct sunlight to work. Plenty of energy gets through the clouds to make solar efficient.
Any country in the world can build a reliable new solar/battery storage infrastructure that only takes up 1% of available unoccupied land.
Energy experts (not self-serving organizations like the IEA who have been paid off) realize that the transition to renewable/storage is inevitable due to economics, not environmental pressure.
If you are reading this and don't believe me, ask yourself:
1) why countries all over the world (even Saudi Arabia) racing towards a renewables/battery storage solution...btw, China is leading the world in the transition to renewable/battery storage
2) why are Russia and Saudi Arabia slashing oil production?
3) why are the production cutbacks by Russia and Saudi Arabia not driving oil prices higher like they did in the past?
When an investor buys a stock or hires a financial advisore (this includes ETF's), the investor gets invested in the story or the advisor for whatever reason(s) he/she chose. The "handing over" of responsibility of looking after your own money to somebody who is perceived to know more about financial matters than you do typically relieves stress.
What are the advisors doing with the funds that they administer under their care? NOT investing in in SU.
On July 1, 2018 Brent was trading at $72 while Suncor was trading at $54.78. On Friday, oil was trading pretty much at the same price as it was 5 years ago while SU closed at $38.82 yesterday.
SU is currently trading almost 30% lower than it was 5 years ago when oil was at the same price as it is now. The DOW is up 900 points over the same period.
You might want to ask yourself why you are invested in SU, or you can continue to believe in whatever it is that you believe in despite the overwhelming evidence to the contrary