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Suncor Energy Inc. Message Board

  • whartonmba99 whartonmba99 Apr 15, 2013 3:01 PM Flag

    stoopid move by suncor

    got into natural gas when prices were low, getting out when prices are rising. buy high sell low, even big corporations do it..

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    • SU obviously wants to focus purely on oil, for good reason. They have more than100 years of reserves already! The only potential problem that I see is that SU has to use enormous amounts of natural gas to heat and separate the oil from the bitumen. If natural gas became a lot more expensive because everybody in the world would heat their homes with natural gas (which people should by the way), it would really cut into their profits. I think SU should have gone the other way and, when natural gas was really really cheap, per BTU way cheaper than oil, they should have bought a gas company like ECA, which has humongous gargantuan reserves of natural gas!

    • This deal makes no sense for SU. The amount of gas given away for a 1 billion dollar by out is a charity from SU to the buyers. This seems like a stupid move by SU and the market agrees.

 
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