Enbridge Excites Investors -- December 1, 2023

Locator: 46211ENB.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source. 

Personal investing:

• bought MSFT today
• December: all new money for investing in December will be used to add to personal MSFT position, previously posted;

NVDA: on a down day for the market, NVDA is up slightly at the opening.

ENB: raised its dividend by 3.1 percent. For all the excitement, that increase was not much, but it's already paying over 7 percent. New: CND, $0.915 --> USD $0.6764.

ENB: Motley Fool --

• Enbridge expects its earnings and cash flow to continue growing next year, even before factoring in its upcoming gas utility acquisitions. 
• Those deals will give it even more momentum heading into 2025. 
• Enbridge has the fuel to give its investors another raise in 2024 (and should continue growing its payout in the future). 

Canada:

PSX:

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Back to the Bakken

Production change, m/m: link here. On a percentage basis, the Bakken beat them all. The Bakken accounted for 35% of the nation’s monthly increase in crude oil production, m/m. Let that sink in for a moment.

WTI: $75.85.

Sunday, December 3, 2023: 155 for the month; 155 for the quarter, 725 for the year
39912, conf, CLR, Hegler 11-13HSL1,
39147, conf, Enerplus, LK Bice 147-96-6-31-4H,
31768, conf, BR, Ivan 3-1-29UTFH,

Saturday, December 2, 2023: 152 for the month; 152 for the quarter, 722 for the year
39147, conf, Enerplus  LK Bice 147-96-6-31-4H,
39143, conf, Enerplus, LK Bice 147-96-6-31-6H-LL,

Friday, December 1, 2023: 151 for the month; 151 for the quarter, 721 for the year
39911, conf, CLR, Arthur 11-12HSL1,
31767, conf, BR, Ivan 2-1-29MBH,

RBN Energy: sulfur creddit investments pay off 10-fold for forwward-looking refiners.

The price of the Tier 3 gasoline sulfur credit hit $3,600 in October, up by a factor of 10 from two years ago and roughly in line with the all-time highs seen in late 2019.

This tradable credit allows refiners to sell gasoline that exceeds the sulfur specification on gasoline sold in the U.S. In today’s RBN blog, we examine what’s behind the credit’s steep and steady rise — and why it matters. 

Implemented in 2014 with initial phase-in beginning in 2017 and full implementation in 2020, the Tier 3 gasoline sulfur standard requires that all refiners and importers that deliver gasoline to the U.S. market must meet a 10-parts-per-million (ppm) sulfur specification as an annual average, compared with 30 ppm under the previous Tier 2 specs.

But the Tier 3 story is really about two tightly coupled gasoline quality specifications: sulfur and octane. Many U.S. refineries are unable to desulfurize gasoline down to 10 ppm without also downgrading the octane of their gasoline pool. This has become a critical new bottleneck in gasoline production in North America that is reducing gasoline supply, increasing prices and affecting refiners’ profitability. The sulfur credit price soared in late 2019 and early 2020 in anticipation of the new rule, before falling as credit demand came in lower than expected.

This lower credit demand was due largely to low gasoline demand (during the worst of COVID) and lower-than-expected octane losses in gasoline hydrotreaters — mostly due to catalyst improvements.