Suncor Energy Churning Out Cash For Investors with 34 Year Reserves

This week it was announced that legendary value investor Warren Buffett had taken a relatively small ($500 million) position in oil sands producer Suncor Energy Inc. (NYSE:SU) (TSE:SU). While this announcement attracted much speculation and indeed anger over environmental issues, Suncor is in fact just a good old value play. First a quick overview of Suncor Energy Inc. (NYSE:SU) (TSE:SU), the company is a vertically integrated oil producer, producing oil from oil sands (377,000 bbls/d) and offshore fields internationally (134,000 bbls/d). The company has refining capacity to refine 89% of its oil production and midstream operations with the capacity to…