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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 Aug 22, 2024 3:58pm
110 Views
Post# 36192398

RE:Meanwhile

RE:Meanwhileyou're very short sighted, hence why you don't brag about your past prediction because they are all underwater, you just move onto new ones and hope next one stick. 

you see, it's likely some indian dude name Apu would take it over and turn it into a Kwik Mart + gas station. Changing ownership doesn't hurt IMO or SU petro sales.  

User image


Obscure1 wrote:

China now accounts for 1/3 of the world wide market for new auto sales. 

Three months ago, EV's made up 39% of new auto sales

In June, the EV share jumped to 51%

Last month, the EV share jumped to 55%

The transition in China is almost complete.  

I know, nobody cares about China.  After all, the west will continue to protect the dying legacy auto industry as per:  

1) Europe announced this wee that they would be slapping up to a 36% duty on Chinese made cars.  Tesla is only getting charged a 9% duty which I'm guessing has to do with European content.  Those new duties are on top of the existing 10% duty.  

2) the USA has imposed a 100% import duty on Chinese made EV's

The US election in November will induce lots of political posturing.  Job protection will be an issue, but the outcome is inevitable. The public will only put up with higher prices and lower qualtiy for so long.  In a few years $15,000 cars will be filling our roads.  Higher end cars will be $25,000 to $30,000. 

The only unknow is where will those EV's be made. 

Why do I assume they will EV's?.  Simple.  You can't make $15,000 gas powered cars with $80 per hour all-in labour costs and the outrageous costs of a dealership network. 

The new batteries powering EV's last about 5x longer than gas powered cars. EV driving expenses are about 1/8 the cost of driving gas cars if you can plug in at home. My best guess is that within 5 years, you will be able to plug in for free at work or while shopping. 

Everyone here thinks I'm nuts.  You might be right, but that doesn't change the facts or the inevitability of what is coming.  I think Suncor will be ok with its tar sands projects and refineries for  awhile yet, but what are they going to do with 1,500 gas stations?  My buddy who owns an Esso station is exiting the industry in 2027 when his leases run out.  How many more will do the same?  



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