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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

Post by Torontojayon Apr 17, 2024 8:03am
205 Views
Post# 35993271

High oil and gold precede recessions

High oil and gold precede recessions

If the US is serious about getting back to 2% inflation they will have to cause a recession to do it. The latest rally in oil and gold are warning signs that a recession may be near. In the past, there are usually exogenous factors that kill the economy. In 2008, it was high oil prices and a housing bubble. In the dotcom era it was the tech bubble. In the Gulf War recession we had a steep rise in the price of oil as well as the savings and loans crisis. What I've found is that oil prices peak just at the start of a recession and plummet when the recession is underway. 

This time around we have a commercial real estate crisis, high oil prices and inflation that is reigniting. If interest rates remain elevated for longer and wars that are happening left right and centre, I would argue that it's not looking good. A recession could arrive before years end. It might have already started if only the data were not compromised. 

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