Liam Denning, Columnist

Buffett's Canadian Oil Bet Isn't a Rallying Cry for Frackers

Suncor seems to be a unique case, not a sign E&P stocks are about to be showered with interest.

February 15, 2019 at 3:46 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Not always somebody you want to see showing up in your share register.
Photographer: Scott Olson/Getty Images North America

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Warren Buffett showing up in your share register can be a bittersweet affair. It confers a certain halo around your stock but also brings confirmation that it had gone to a dark place indeed. Such is the way to read Berkshire Hathaway Inc.’s just-disclosed stake in Suncor Energy Inc.

Understanding why Suncor might attract the attention of the Omaha crew requires looking at two charts. The first is Suncor’s stock price: