Suncor reported record-breaking earnings of $3.99 billion in the second quarter, more than quadruple the $868 million it earned in the same period of 2021.
"In the second quarter, MEG initiated its share buyback program and continued to make significant progress on debt reduction," said Derek Evans, president and CEO MEG Energy, during a call with investors on July 29. "I think what most companies are going to do is to pay down some debt, increase the dividends to back to about where they were before," said Bob Schulz, professor at the Haskayne School of Business at the University of Calgary.
" they all took a pretty big beating through that period," said Kevin Birn, chief Canadian oil analyst for S&P Global Insights.
Thanks to tax give aways to filthy rich corps who took our taxes to the states. And with rip off greedy gasoline!
Because they are not hiring or doing exploration. Why spend the money when governments and policy doesn’t support it? Just return the cash to shareholders. Ca-Ching. We brought this on ourselves.