For Investors Only: ENB -- Bakken, North Dakota, USA

I have held ENB for many years. If I had the cash I would continue to accumulate ENB.

Yesterday I thought it was interesting that ENB had a bit of a down day on the market even though the general market was up and the price of oil held its own even as Alaskan oil came back on-line.

There were two stories out yesterday affecting ENB.

• Increased pipeline infrastructure moves forward (a capital expense)
• Spill costs estimates raised from $430 million to $550 million

I doubt either had much to do with the ENB price move yesterday. More likely it was money moving from one sector to another. The oil sector has had quite a run. Yesterday AAPL and IBM announced phenomenal results. Headlines touting AAPL used the phrase "crushed estimates." (I love Apple products but don't invest in AAPL. I missed that one and won't get in now even though I think it is a great investment.)

The ENB infrastructure projects will eventually add revenue to the bottom line. I assume credit is inexpensive and fairly easy to arrange.

Much of the spill costs will be covered by insurance.

An earlier story, January 6, 2011, said that Enbridge would shut down its major pipeline in February  / March time frame for routine maintenance but I would assume this has already been "priced into the shares."

Enbridge said January 4 that it plans to shut its Line 6B for two separate maintenance periods, starting about Feb. 7 and March 7 and lasting as much as five days each.

By the way, that last link was a Reuters story. It's interesting to see how Bloomberg talks about the Bakken as if everyone knows all about the Bakken. The potential of the Bakken is gaining credibility.