Suncor Energy Inc T.SU

Everything is upside down

[Obscure1]

Oil is up 3.5% and SU is down 1.75% 

The Canadian dollar has decoupled from oil which petty much never happens.

Real interest rates are massively negative which is unsustainable as we have seen in the past.

Debt in Canada has doubled in the six years Trudeau has been in power which makes it pretty much impossible to bump interest rates enough to rein in inflation.

Covid dominated the media and shut down and pretty much bankrupted Canada and now nobody is talking about it.   Just like that....poof...nothing....out of sight, out of mind....makes you wonder

Buffet was supposedly washed up and it was all tech-tech-tech and now Berkshire is a darling once again and SHOPfor example is down 70% even though SHOP is positioning itelf to go directly after AMZN

Housing prices have completely lost touch with reality. 

I have been encouraging my son to buy a house since the housing plunged in the spring of 2017.  Last night, my son called me and asked me if I thought he should put an offer in on a house.  I asked him if he loved the house and he said no, but that it was ok. 

I told my son that I have no clue what prices are going to do in the short term, but that I wouldn't be buying a house now.  I said that the current housing prices can't possilbly be sustainable.  When interest rates start moving up a half percent per month for a few months to battle inflation, a correction is inevitable.  I have built a few homes so I have a pretty good idea what things actually cost and even the temporary inflated price of materials don't come close to justifying housing prices. 

The environmentalist zealots worked the media into a froth without thinking about the future and the harsh reality of moving to renewables.  Screaming at the top of one's lungs doesn't accomplish anything without a workable alternative plan.  Their "solutions" currently cost about 8 times as much as oil and gas and no matter how much money we throw at renewables, they still won't solve our energy needs.  Making the transition is bankrupting the world. 

Putin? Not touching that!

Biden? Not touching that either!

The only thing that I think I know for sure is that China is going to be the big winner.

[Chad123]

Well the sooner someone can figure it all out, let me know. Upside down is a polite way of saying the world is F*&%^D, at least in it's thinking. What I have figured out is that they have always wanted cheap energy, thinking that they can grow their economies from cheap energy, mainly O&G. Ocassionally it goes a little haywire only to come back to cheap energy again because they go and

[Experienced]

Agreed Very nice precis of the situation. I must admit that in all the years that I have been investing over the past 50 plus years including a stint in the investment business, I have never seen anything quite like this.  There are always undercurrents to deal with but the complexity of what is going on these days makes the "old days" seem like child's play. In previous

[liljohnnyjoke]

China became best friends with Russia in February just before the invasion. So China will by buy all Russian oil and other raw materials with $US to manufacture goods and ship to USA for sale. And China has been buying oil from sanctioned Iran and Venezuela all along so those countries likely will tell USA to take a hike in regards to selling them oil now when they are in a bind. This situation

[Experienced]

In a word.....YEP!!!

[quesea]

Cute comment !! The Americans are still living the American Dream, but somehow/someway (Fox news/comedy) they are to stupid to know-comprehend it !!! kc