Suncor Energy Inc T.SU

Pure speculation

[lifeisgood1010]

What i am about to write is pure speculation on my part so take it for what it is worth.

After the June 27th debate between Trump and Biden were we saw Biden unable to

respond to Trump , the pool numbers in the next few days/weeks put Trumps as the 
clear winner on November.

We all known that the paper market for oil is much bigger than the physical market.

Could it be that many did take a bullish position on WTI futures?

And now that Harris is gaining traction in the pools, could it be that some of these positions are
being unwinded?

Just a thought, like i said,i may be wrong and the sell off as nothing to do with the
Trump, Biden,Harris story.

Resources company are price takers.They can hedge a portion of their production but in the end, they are price takers.

The only thing good management can do is work on the cost side and so far,
R.Kruger as proven to me that he is very effective in that matter.

His plan is to reduce Suncor cost by $5 a baril.

Could we see more weakness in the price of oil in the short term, absolutly.

Everything is possible.But from what i have read,the Saudi's need a higher price to
buckle their budget.

So i don't think that they will not support the price with their actions in the mid to long term.

But then again, in the short term, anything can happen.

As for Suncor share price, could it go lower in the short term?
The answer is also absolutly.

But when this correction is over, i am in the camp that we will see new high for many
oil producers.

[Marty47]

The oil did better under Biden than when trump was president , Harris is probably worst than Biden and you can expect road blocks for usa producers if so production will be lower , trump goal is to reduce energy cost by 50% , so watever he can do it will force producers to increase production thus oil could be in the 60s $..... so my take is Harris has prsident will be easier for the Saudi to

[mrbb]

that is a traditional view and may not hold water drill baby drill happened under biden's watch. record US oil production under biden if you think WTI could get to 60's again under trump, you think oil shalers drill baby drill just for trump?  Money no longer cheap or easy for oil/gas like before. Access to cheap easy money, low profit margin at 60s WTI, higher interest rate no

[Marty47]

Well I can see is the oil swing up and down with a fart from the news .... so I do know trump with his big mouth may make oil swing low , remeber when oil was at 78$ and he call the Saudi to pump ..... oil go down to 70$ because the Saudi did pump more but now we don't need to worry I don't see him in the White House by replacing Biden with Barbie Kamala that's all it needed to turn

[Experienced]

Marty....perhaps but such a reaction to Trump would be based on vapour not nuts and bolts and if that were to happen it would present an opportunity for a short term profit based on the bounce back to reality. IMO, the greater issue/concern over which one gets elected is not related to policy regarding oil but overall economic policy and the US fiscal position.  Both of Harris and Trump have

[lifeisgood1010]

Nice post mrbb,couldn't agree more. While everything is possible, i doubt very much that we will see WTI at $60. Like is said it's strictly a hunch that i have, that there may be some unwinding  of long position on WTI contracts. If i am right(pure speculation), once these "bad bets" out of the way, we will see a resumption on the upside of oil price. From what i read

[Experienced]

Marty...interesting speculation To me the way to look at this is as follows... There are a whole bunch of things that are givens and won't change irrespective of who wins the election.  This includes the overal price of oil which in part depends on world oil demand and supply, technology/productivity, interest rates...the list goes on.  So the question then becomes as investors