Suncor Energy Inc T.SU

You might want to read up on Evergrande this weekend

[Obscure1]

There has been a number of recent warnings about the Chinese economy recently such as the country slashing interest rates this week.  So far, the oil market has ignored. the warning signs 

Real estate makes up 25% of the Chinese economy (50% more than the USA economy) which is huge. 

The imploding real estate market in China just showed up on America's front door yesterday as Evergrande has filed for Us bankruptcy protection. 

Canadian banks have little or no exposure, but I'm not sure about the USA system.  The Chaptor 15 filing in the USA is ONLY for $31 billion in assets but the tremors will be felt at Blackrock and others this weekend. 

If China's "problem" spreads, things may get interesting and not in a good way. 

Meanwhile, the bankruptcy filing is another warning that things are not well in China. 

Questions to ponder:

If China experiences an economic meltdown, how will it affect its oil imports which were 12.67 million barrels per day in June 2023?  

If China's daily imports collapse, will it act like a contagion for oil demand?  

Is this the next Black Swan event as some are suggesting, or will an egocentric America just gloss over the "Chinese" situation as "not our problem" which the ROW will be watching?

You know what is best for you and your family so I won't make any suggestion other than to do some reading and think about what happens if the demand for oil takes a serious hit in the coming  months if there is a fall out in China. 

Thanks for reading.

[matt2018]

Evergrande has been a serious financial concern for a few years now, going back to 2021, so this news is not exactly a total surprise.  I am surprised they held out this long. Hate to break it to you, but almost every investment these days is a risk.  Especially when you consider the quality of the people that are running things in some of the highest positions (Yellen, Powell, Biden

[matt2018]

I do agree with you, things are not well in China.  The CCP will probably throw more stimulus at it and kick the can down the road (we seen how that story ends). But I dont believe the Oil market have ignored any of the warning signs. Oil has had some large draws recently, including this week, only to see the price go down even lower. Oil traders seem to be pricing in a real possibility of a

[Experienced]

Obscure....Yep...but that is only one case.. https://www.the-sun.com/news/7020446/china-haunting-ghost-cities-homes-abandoned/

[mrbb]

I had already covered this subject in my earlier post.  Your and Experienced's observation are just surface scratching of china as seen by western analysts.   Expanding on that.  i put trump trade war with china as the official start (2018) of china collapse but it took covid19 to really pop the china bubble in 2020. China couldn't cremate dead bodies fast enough. 

[wreckhouse]

CHINA ---CHINA ----CHINA , HMMMM  , Well China shot itself in the foot a long time ago because of it's ignorance and now must pay the piper .  1/  One child policy 2/ Build ghost  city's  3/ Import mega coal/oil for hydro power  4/Trade infringements / patent 5/ slave labour  6/ Hong Kong money drying up  on and on and they started to

[pooltec]

To late  anchor  babies

[mrbb]

The CCP, where 1 uneducated bumpkin makes all the decision, that should turn out well. If that doesn't do in china, the corrupted CCP insiders that bled china dry have moved all their money (and families) oversea.  One thing that just came to mind, oil/gas import data from russia and the 'stan' neighbors is an unknown or is opaque if you believe the chinese report. The published