Suncor is an energy company that was first created in Montreal, Quebec, Canada in 1919. Their headquarters are now located in Calgary, Alberta. They specialize in producing synthetic crude which they get from Alberta’s Oil sands. John Ferguson happens to be the Chairman of the Board and Steve Williams is the CEO. They also own Petro-Canada as they merged with the company on the first of August, 2009. Their stocks have had some rough patches over the past few years. In January 8th, 2010 the stocks were worth 38.69$ and as of January 9th, 2014 the stocks were worth 35.61$ and are currently worth 31.92$. The stocks have gone done a total of 7.96% over the 4 years. Stock has been fluctuating for the past few years. The stocks have been going …show more content…
Naming all of the problems the company has faced or is currently facing would take centuries. Currently I am going to talk about the problem that the company is facing at this very moment. The sliding oil prices connected with the main problem about the environment. Firstly the sliding oil prices “Suncor Energy Inc. needs to position itself as the number 1 energy company in the world in a world of unstable oil prices and growing pressure to reduce carbon emissions” in the words of the CEO himself. The price drop in oil prices has had the largest downturn since the 1990s and it was simply caused by a supplyvsdemand issue. In countries with large populations and economies when they have economic issues it severely effects the rest of the world. Additionally Suncor has had issues with lying to customers about being green and energy efficient. They have invested billions of dollars into making North America Energy Efficient, but the problem is since the oil prices dropped they haven’t been doing very well with business and this has been causing them to lie. This is because creating eco – friendly environment and work-place does cost more for all that equipment as well as other costs. Since they weren’t making enough they took the easy way out and used the cheap but not energy efficient way to extract and get the …show more content…
Firstly apologize to customers in a series of advertisements and promise to be energy efficient and environmentally friendly and do things such as plant trees on a large scale. On one hand its does may green amazing things to the environment whether it convinces he customers or not, gives them a good reputation among organization that protect trees and nature which means the get some recognition and free advertisement and get customers to trust them and look green. But on the other hand there is a huge loss of money when spending on green solutions, some customers are suspicious and do not believe all this advertising and the advertising would also cost a lot of money. Secondly another option would be to increase the gas prices for a short amount of time to reduce the demand and spend money on cheaper and greener oil. On one hand there is less demand, the research gives them great results that not only keeps them greener than other companies but also can save them and give them large sums of money in the future and customers when they hear about the change the will put their trust back in Suncor. But on the other hand having less demand means less money will come in, and sometimes research has some upsetting results and would be a loss of a large sum of money and prices go up for various products that rely on roadways for distribution. Lastly the final option would be have a new