Wednesday, July 18, 2018

Alcoa To Restart A Third Potline At Its Indiana Smelter -- Bullish On America? -- July 18, 2018; Fitzsimmons On PSXP Midstream; Line 3 Update; And California Dreamin'

American economy? This is pretty bullish, one would think. Link here at SeekingAlpha.
Alcoa expects to complete the restart of the third potline at its Warrick aluminum smelter in Indiana by the end of the year; related costs will be incurred in Q3 and Q4, estimated at $5M after-tax.
A potline is a row of electrolytic cells used in the production of aluminum. By the way, the same thing -- re-starting a potline --was reported in New Zealand a few weeks ago. No mention of President Trump or the trade war mentioned in the SeekingAlpha note.

Odds and Ends

Fitzsimmons on Phillips 66 Partners from SeekingAlpha:
  • on Wednesday, PSXP raised its quarterly distribution 5.3%, continuing the torrid 30% CAGR since the IPO
  • but if the MLP model is "broken" as so many (including myself) believe, is even a high-quality MLP like PSXP worth holding?
  • considering the yield, its high-quality GP, and the number of very attractive demand-pull growth projects, the answer is "yes."
Disclaimer: this is not an investment site. 

Line 3 update from businessinsider dated today:
Aecon Group Inc. announced today that SA Energy Group, a 50/50 joint venture between Aecon and Robert B. Somerville Co. Ltd., has been awarded a $282 million contract by Enbridge Pipelines Inc. for Spreads 8 and 9 of the Line 3 Replacement Phase 2 project in Manitoba.  
The scope of work includes constructing 92.2 km of pipeline in the area of Brandon, Manitoba for Spread 8, and constructing 96.5 km of pipeline near Morden, Manitoba for Spread 9 extending to the Canada-U.S. border.
Construction is expected to commence in August 2018, with anticipated substantial completion by the end of 2018. Recently, under Phase 1 of the Line 3 Replacement project, SA Energy Group successfully completed Spreads 3 and 4 (261 km), in Saskatchewan.
California dreamin': well, that ends that. The California Supreme Court said the initiative to divide the state into a triad cannot be on the November, 2018, ballot. But, the Court said it will re-visit the issue later.

And, of course, you know what's coming. LOL:

California Dreamin', The Mamas and Papas

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