Suncor Energy Inc T.SU

Another small update.......

[mrmomo]

For those of you that are following the Suncor spill/AER story. Not sure if this was posted or discussed already as the news is over 1hre old, but just in case, i will post the link below for those that are interested. Imho, this story is far from over and should get REALLY interesting when the time comes for Alberta's oversight committee to aprove or not the expansion of Suncor's Fort hills operation. Not sure if Zack's picked up the story from Reuters initial reporting or if there's any new development but, this update is a little more detailed, provides some additional info and also gives their personal insight & opinions. Hopefully for Sucore s/h, the company will address this directly, head on, at some point in time.

https://finance.yahoo.com/news/suncors-su-fort-hills-mine-164004241.html

GLTA

[pooltec]

I took a look on google maps sat. image.   Looks like there is some brushland and wetlands next to the present mine. Need some insider info where the expansion is planned.  But really the whole damm mine is next to the Athabasca river.   Give me a break, send the nations a bonus cheque all should be fine.

[Experienced]

The days of buying them off with a Wayne Gretzky autographed hockey stick are long gone. If what happened to TMX is any indication then this issue could become too expensive for SU.

[mrbb]

bitumen had been leaking into athabasca river for eons. Oilsand mining is just one huge natural oilspill clean up project. 

[Experienced]

Perhaps...but as they say..that a buck will get you a coffee at Tims ENB had to spend 250 million to get past native and environmental objections to complete Line 3 - not to mention years of delay. The same fate could easily be the future for SU despite what you think.  Time will tell.  In the meantime it presents a risk to investors which will be discounted in the SP.

[Experienced]

Newsflash... The environmental groups and the First Nations in the area just read your post.   In their PR they said "OMG we didn't know that.  Thanks for letting us know mrbb.  As a result of this new information, we are folding up our tents and don't plan to oppose the mine extension any longer."

[barneyj44]

Once some of that Bitumen (Cash) starts greasing the First Nations palms the mine will be a go. Can you say Reconciliation. 

[Experienced]

True - but the question will be how much money will it take and how long will it take to get to "Reconciliation"? Based on recent experience in Canada and the United States it may well take considerable time and money.  This uncertainty will be reflected in the SP and ultimately the question will become a math question for SU.

[mrmomo]

As i'm sure many here do apprecaite all the comments & opnions being expressed on this topic, i just wanted add few more comments & also clarify a few points. Things that i may not have made CLEAR in my initial post, and in which was probably NOT worded in the best manner possible. So let me clarify a few things here.... First, i'm sure most are fully aware of this fact, BUT

[pooltec]

HUMAN BEINGS ARE ALL THE SAME GREEDY NO MATTER THE COLOUR.  SOME NEED A BIGGER CHEQUE THAN THE OTHERS.  IMAGINE YOU LIVE CLOSE BY THE THINGS YOU CAN DO WITH THAT CHEQUE.  NO WORRIES NOT LIKE THERE IS A MAJOR METRO AREA OF PEOPLE.

[Experienced]

I think that this is a fair assessment of the situation. For investors, the question then becomes - with this uncertainty, where do you want to put your investment dollars?