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Don't let your fear of getting rich.......

littlejoe

Well-known member
stop you from buying Canadian drillers......


Enbridge Line 9B Reversal Approved With Conditions by Regulators

By Andrew Mayeda and Jeremy van Loon - Mar 6, 2014

Enbridge Inc. (ENB), Canada’s largest pipeline owner, won regulatory approval to reverse and expand a portion of its Line 9 system, allowing for more shipments of western crude oil to refineries in Quebec.

The approval is subject to 30 conditions, such as requirements that Enbridge take steps to ensure the integrity of the pipeline and guard against spills, the National Energy Board said in a statement today.

The reversal of the 639-kilometer (397-mile) section, known as Line 9B, is part of Enbridge’s effort to provide refineries in eastern Canada with lower-priced North American crude from Alberta’s oil sands and North Dakota’s Bakken. The line from Westover, Ontario, to Montreal currently is capable of sending about 240,000 barrels a day of overseas oil west.

Refiners along the Atlantic Coast have lost money as they pay more than their U.S. competitors for crude, much of which they get from the North Sea. Western Canada Select, a heavy oil blend, traded at $77.52 a barrel today while Brent oil, an international benchmark price tied to the U.K.’s North Sea production, cost $107.88. West Texas Intermediate, the U.S. benchmark, traded at $100.86.

The reversal is part of C$36 billion ($33 billion) in spending Calgary-based Enbridge has planned for the coming years, including expansion of oil pipelines across the continent, such as the Northern Gateway.

Enbridge also won permission today to expand part of the line’s capacity to 300,000 barrels a day. The pipeline was reversed once before, in 1998, to give refiners access to cheaper foreign oil supplies.

Concern about potential spills from the pipeline prompted one group to call for civil disobedience in response to the government’s decision.

“With an over 90 percent risk of rupture, a spill from Line 9 is a matter of where and when, not if it will happen,” Shirley Ceravolo of activist group Rising Tide Toronto said in an e-mail today. “Rising Tide is calling for civil disobedience to show opposition to Line 9 and tar sands expansion.”

Plus---with Canadian $ worth about .90 us, it's a currency play. And speaking of currencys---when you pay your costs in Canadian $, and sell in U.S. $---You can add another 10%--NET!--to bottem line.

Athabascan hi grade u308 and sask potash plays also looking enticing.
 

Steve

Well-known member
I feel if you are going to post what is basically and advertisement /investment advice piece you should disclose your connections to the company or sector

I invest.. but am always reluctant to advise others,.. what may be good for me may be horrible advice for others..

often encouraging others to invest in stock or holdings I already own will benefit ME, more then them.

On the front end the rise in price would increase the value of your stock,,, you would profit..
so would you then advise them to sell before you did or would you sell and then say "oh by the way that stock I raved about is going to tank"..

in the latter scenario you get value from them on both ends.. and they get the short stick,..

just an ethics issue..
 
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