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Suncor Energy Inc
Symbol SU
Shares Issued 1,180,745,547
Close 2026-06-17 C$ 79.39
Market Cap C$ 93,739,388,976
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Globe says CNRL hears Canadians face record prices

2026-06-18 06:18 ET - In the News

See In the News (C-CNQ) Canadian Natural Resources Ltd

The Globe and Mail reports in its Thursday edition that Canadians are facing record gas prices, with some paying up to $2 a litre. The Globe's guest columnists Peggy Nash and Jared Walker write that even though the United States and Iran have agreed to a ceasefire, analysts predict gas prices won't return to prewar levels until mid-2027. Consumers are expected to pay as much as $129-billion more for energy in the year after the start of the conflict. Turbocharged windfall profits from oil and gas are unlikely to boost Canada's sluggish business investment, as companies plan to return profits to shareholders rather than invest. When we consider that the lion's share of these profits are unlikely to remain in the country because Canada's Big Four -- Canadian Natural Resources, Suncor Energy, Cenovus Energy and Imperial Oil -- are about 60-per-cent American-owned and only 27-per-cent Canadian-owned, it becomes clear this price shock is bad for the majority from coast to coast to coast. Perhaps that's why new polling suggests Canadians are broadly united about how the government should respond. Two in three Canadians support a windfall profits tax on the oil and gas industry, a solution tailor-made for this exact crisis.

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