July 12, 2016

Suncor Energy Inc. (USA) (NYSE:SU) is trending after Bloomberg published an article on the energy company stating that Suncor’s CEO has doubled down on oil sands projects, even though the substance is more carbon intensive than traditional methods of unlocking crude. Suncor has spent $6 billion in acquisitions over the past year and plans to boost production to 800,000 BOE per day in 2019 from 600,000 BOE per day in 2015. Whether the deals will pay off depends on how much crude can be recovered from the sites. The number of firms in Insider Monkey’s database with holdings in Suncor Energy Inc. (USA) (NYSE:SU) rose by three quarter-over-quarter to 32 as of the end of March.