Post by
Clemxb7 on Sep 03, 2023 10:56am
Should Suncor rebrand to Petro-Canada or something?
Even though I am an investor and positive based on the fundamentals I can't deny when the name Suncor is mentioned in fintwit often eyes are rolled and the question "what did that clown show do wrong now"? Is asked. You can see in in the multiples; Suncor is just not given the same cred as other Canadian O&G.
There are also irrational environmentalists on twitter who are promoting the notion the oil companies should be seen as the same the tobacco companies who hid studies they knew proved a cancer link. To me this idea is plainly stupid because buying gas is not the same as buying a pack of cigs. Still Suncor - the granddaddy of the "Tar Sands" seems to get more hate than deserved.
To me Suncor, and other Cad O&G, is a big big reason we live large in Canada and why the Cad $ is not toilet paper. Suncor funds our social system.
Suncor seems to be turning around its image with the new management and I think the market likes it because the long absent bid to SU shares is back. I'm not surprised. Little and crew seemed detached and unimaginative and directionless. How to explain so many site deaths? The way old management would mumble their way through a quarterly call was frustrating.
Anyways now Suncor is on a new path with seemingly more competent management. I wonder if they should really try to sever the link with "old disappointing Suncor" and rebrand? The silly thing is I am sure there are Suncor haters out there who fill up each week at their favorite gas station Petro-Canada and are totally unaware of the irony.