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Bullboard - Stock Discussion Forum 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... see more

TSX:SU - Post Discussion

Suncor Energy Inc > US Ban on Russian Oil Imports - A Joke
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Post by Experienced on Mar 10, 2022 7:53pm

US Ban on Russian Oil Imports - A Joke

The Bill passed in the US House of Representatives to ban Russian imports has some interesting clauses..

1....it will not take effect for 45 days afer it gets senate approval

2....it will not include any oil contracted in the next 45 days

3...Biden can override it if he thinks it is in the national interest to import the oil

Soooo...unless the Ukraine war lasts another 45 days this bill is meaningless and if the war lasts longer Biden can override it if he thinks gasoline prices are too high..

Putin has gotta be laughing at this.  Talk about a toothless tiger and yet on CNN they are saying "OMG Biden and Pelosi are sticking it to Putin" ------NOT


Meanwhile back at the ranch, Zelenskky is saying enough already about words, I need concrete action/support!!!
Comment by MigraineCall on Mar 11, 2022 4:18am
Yes Experienced, one must recognize that it won't start to bite or affect US inventories until May.  Also, the nature of the oil market is such that it takes a minimum 3 months from the time of purchase, to load a cargo, to ship, to unload, to refine, and get to the fuel stations.  We won't feel any difference to supply until then. This leads to the question, why do pump prices ...more  
Comment by liljohnnyjoke on Mar 11, 2022 9:21am
China and Russia forged new economic ties just before the invasion, guess the timing was just coincidence? China supports the invasion. China and the rest of Asia will take all oil the west doesn't want. So all the western sanctions do is drive the oil price up and ensure that Russia gets Way more $$$ per barrel than it did a month ago.
Comment by mrbb on Mar 13, 2022 3:35am
the west is delusional to think their sanction gonna crush russia. These sanction only gonna hurt the west themselves way more. The SWIFT isn't `100% closed to russia, i heard 1 or 2 bank are allowed to do transaction with russia. The west hit russia with pull out of macdonald, apple,  PepsiCo, CocaCola, Starbuck, Adidias, netflix, Lego, Disney, facebook, twitter, Chanel, Burberry, Louis ...more  
Comment by Chad123 on Mar 13, 2022 10:33am
Sounds pretty bang bang on to me. Thanks
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