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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 mrbbon Jan 13, 2024 3:04pm
80 Views
Post# 35825305

RE:RE:EV's Demand is largely Political, not market based.

RE:RE:EV's Demand is largely Political, not market based.

Definition of 'hypocrite'

Let me get this straight. The author is inferring that EV sales are a political "thing" and are basically not cutting it.

The only reason that US automobile sales are not being dominated by Chinese automakers is due to the fact that the US won't allow Chinese automakers in.  The US government made the decision to protect the US auto industry by keeping China out.  Instead of the US legacy auto companies using the opportunity created by temporary protectionism, they accepted loans (Ford got $10 billion) to create a level playing field and then decided that making EV's was too difficult. Biden has had his nose planted up GM's butt and the company has rewarded the largesse by failing miserably and breaking promise after promise.

Same goes for china, the CCP mandated EV sales, funds all sectors of EV sector, from chips,  software, battery plant, EV factory, etc.  In some cases, the subsidies exceeded the sale price of the EV.  The CCP steered their people to buy chinese made products, EVs and smartphone, it's patriotism while stigmatizing the big 3 autos. Of course gm, ford, stellantis, vw, apple, sony, panasonic, samsung, toshiba, LG, toyota, honda, have to exit china, they know they are no longer wanted in china.  It is laughable to say EV business is not politically driven. 



Ignoring the fact is hallmark of a religious follower.

Evidence to support the ridiculous American tunnel vision is that Tesla introduced its first concept EV 16 years ago.......

US consumers have changed view on BEV, sentiment on BEV had changed, how is this a tunnel vision?? Consumers are now more leaning toward hybrids, something that toyota had been saying and good at it for a long time.  As smart as elon musk is, i have to recognize the combined brain power of hundreds if not thousand of toyota and honda engineers and scientists on what they have to say as well.



Obscure1 wrote: Let me get this straight. The author is inferring that EV sales are a political "thing" and are basically not cutting it.  Evidence to support the ridiculous American tunnel vision is that Tesla introduced its first concept EV 16 years ago is only selling 2 million cars per year so far.  In 2014, the world laughed at the absurdity that Tesla would sell 500k car sin 2021.  Tesla hit the target and nearly quadrupled sale 3 years later.   

Ford has been around for more than 100 years doing the same old same old.  Today, Ford sales are falling off a cliff in China (biggest automobile market in the world at 23 million vehicles) and in Europe (3rd biggest automobile market in the world at 10 million vehicles). Ford looked like it was going to avoid going bankrupt until they made the decision to slash EV production in 2024 so that the company could sell as many over priced and under performing ICE vehicles to brain-dead American and Canadian consumers for as long as possible.  It is not that Ford can't make EV's, they just can't make good EV's and they lose an average of $37,000 on every EV sale. The future of Ford is now very much in peril. 

VW is doing much worse than Ford. The long time world wide market leader has already admited that they can no longer compete in the auto industry and have placed their bets on partnering (on a very small percentage scale) with a Chinese manufacturer.  Anybody wondering how that will work out?  The Ford dealership program which is the father of all shell games is a mess as the entire business model of Ford (and GM and Stellantis) is broken and falling apart. 

Toyota, the co-leader with VW for the past couple of decades is experiencing the same fall from grace as VW.  Toyota reminds me of GM in that they are making a lot of promises with zero results

GM is done. GM capitulated years ago and is basically a brand name where virtually all of its profits come from a minority ownership in SAIC (a Chinese auto manufacturing company).  

Stellantis is done.

Honda is promising to get started in EV's in 2026. 

The list goes on and on. 

The only reason that US automobile sales are not being dominated by Chinese automakers is due to the fact that the US won't allow Chinese automakers in.  The US government made the decision to protect the US auto industry by keeping China out.  Instead of the US legacy auto companies using the opportunity created by temporary protectionism, they accepted loans (Ford got $10 billion) to create a level playing field and then decided that making EV's was too difficult. Biden has had his nose planted up GM's butt and the company has rewarded the largesse by failing miserably and breaking promise after promise. 

It is amazing that we live in a world where so many people follow the opinions of others who don't have a clue what is really going on. 

 

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