Locator: 49711ENB.
I track pipelines here; haven't updated this page in years; lost interest when the Keystone XL finally killed.
I have a page devoted to ENB (Enbridge) here. Likewise, I haven't updated that page in a long time; bored with all the controversy over Line 5.
But now it's time for an update.
Right, wrong, or indifferent, I've always maintained that the best thing that ever happened for Enbridge investors was when the Keystone XL was canceled.
I'm not going to review the history of the $6 billion refinery debacle decades ago; the heavy oil / light oil issue; the difference between Canadian oil / American oil; but let's just note that one pipeline network imports 70% of all Canadian oil into America.
So, here we are.
Today's story, link here.
Background, from the link:
The timing lines up cleanly with Canada’s production trajectory. Oil sands output is on track for a record this year and is projected to approach 3.9 million bpd by 2030, driven by low-decline, high-efficiency expansions rather than new megaprojects. Extra pipeline capacity keeps barrels moving to the highest-value markets and reduces the risk of the painful differential blowouts Canada has seen whenever egress tightens.
Enbridge is already running close to the ceiling. Mainline throughput averaged a record 3.1 million bpd in Q3—evidence of how little spare capacity remains and why incremental debottlenecking is the only realistic near-term solution. The company has also been exploring the 200,000 bpd “Southern Illinois Connector” to move more crude from Illinois toward the Gulf Coast, a sign of continued pull from heavy-capable U.S. refiners.
The regulatory backdrop has softened slightly. The U.S. Army Corps of Engineers recently approved Enbridge’s 41-mile Line 5 reroute around the Bad River Reservation in Wisconsin. The project remains politically explosive, but the approval removes one regulatory unknown for shippers who depend on Enbridge’s network for multi-year planning.
For an overview of the Enbridge Mainline, see wiki.
ENB is one of my "longest" holdings -- have held it for decades, always adding to positions, never selling. I have no idea if it's been a good investment or not. All I know is that I love the dividends (except taxed by Canada) and then re-invest the dividends in growth / generally low-dividend companies. And wow, some of the investments made from ENB dividends.
See blog's disclaimer.
Briefly:
- I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
- I am inappropriately exuberant about the US economy and the US market.
- I am also inappropriately exuberant about all things Apple.
- See disclaimer. This is not an investment site.
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- All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
- 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.
- Many posts are not proofread for several days after they've been posted.
- Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market.
- I am also inappropriately exuberant about all things Apple.
- And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution.
- I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom.
- And Oracle.
- Longer version here.
