Oh, I try not to set up specific price expectations - that way lies the path to disappointment. Suncor has already doubled for me, with a little trading, and they keep dribbling those dividends into the account, so I can't pretend to impartiality.
They keep cutting costs and raising production in the oil sands where they have virtually unlimited reserves, they keep improving margins in the downstream, they have a little possible excitement coming in the Queensland oil shale JV, they hedge well so far, they keep making good money (they just posted .461Q98 against .541Q97 - not too shabby imho). As well, they just seem technically stronger than the only viable alternative, PCA - mind you, I don't know TA from turnips, that's just an eyeball seat-of-the-pants read.
Then there's my basic belief that oil won't be going out of style, and that the existent oversupply is a tiny percentage of daily consumption, and that any number of crises could boost the PoO any day, while the Athabaska oil sands will remain on the most stable continent on the planet.
I'd like to see somebody short Suncor and come on the thread and explain why in a detailed and intelligent manner - then maybe I'd lose this complacency and learn something -g- ........ cheers
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