Perfect target of LINE. Except the Canadians destroyed their partnership structures and their oil and gas industry has not recovered. Second tier entrepreneurial companies cash flow is crimped and they are not able to keep up with the technology cycle. Not to mention a lack of infrastructure to get their products efficiently to America.
Of course blocking the XL for irrational political reasons kills other projects which do not move forward as economics would dictate.
The quickest way to reduce co2 would be to covert natural gas into methanol and even super clean finished fuel. As it is driven by much lower cost simple economics would insure it would be implemented quickly.
First we have to stop the say or do anything Progressives crony capitalist corn lobby. Any Republican label supporting this delusion and insanity is a Progressive. No rising tide lifting all boats but a rig the economy to benefit me Progressive.
norris, another pipeline carrying BAKKEN oil is now finished.
There was some idiot poster not too long ago who was insisting and insisting that OIL pipelines were not economic to build in North Dakota.....even after EIGHT of them were listed by name which were expanding or being built.
Here is info on one of them:
"(Reuters) - Enbridge Energy Partners and the Enbridge Income Fund said on Monday they had finished part of their Bakken crude pipeline expansion project, adding 145,000 barrels per day of capacity to the booming oil region around North Dakota.
Shale oil production from the expansive Bakken formation, which straddles the U.S. and Canadian border, has surged in recent years prompting a spate of infrastructure projects to help provide crude to refiners in the region and beyond.
In North Dakota alone, production has risen to almost 770,000 bpd at the end of last year from 100,000 bpd in 2006.
The Enbridge project, which entered service on schedule and under budget according to the company, reversed and expanded a pipeline running from Berthold, North Dakota, across the border to Steelman, Saskatchewan.
The companies also built a 16-inch (40-cm) pipeline from a new terminal in Steelman to Enbridge Pipelines Inc's mainline terminal close to Cromer, Manitoba.
"Once on the Enbridge mainline, Bakken production will have access to the multiple markets accessible from the mainline and connected pipeline systems," the two companies said in a statement.
"Firm commitments totaling 100,000 bpd have been received from anchor shippers," the statement said.
The project was the third expansion of Enbridge's transport infrastructure in the Bakken region in the past five years. Bakken production could rise to 1.2 million bpd in the coming years, the companies said.
Canadian pipeline operator Enbridge Inc has a 23 percent stake in Enbridge Energy Partners and a 20 percent stake in the Enbridge Income Fund".....etc.
It is the nature of the wing monkeys to get up when Mom tells them and then spend the whole day fluttering about chattering in their own language no rational person can understand.
Pipe represents hookup of a great deal of 'new' natural gas to the market infrastructure. Of course not something OLB troopers consider important to LINE.
BUt investments is not what wing monkey do. They have their primitive nature to drive behavior and unfortunately the LINE board seems to have more than a fair share of the very frustrated ones.
I did star picking up very minor amounts of PGH under $4.25. Would not assume the dividend will hold but boy talk about discounted oil boe. Management has a good stake and other than getting carried away on acquisitions are decent operators. Plus once the stock goes below $5 markets are often not very efficient. But it is always scary as the market is usually inefficient towards overvaluation.
However there is some good news. Two new oil refineries are being developed in the United States: Arizona Clean Fuels Yuma, LLC is building an oil refinery in Yuma, Arizona and Hyperion Energy Center is building a refinery in Union County, South Dakota.
Currently there are 149 refineries in the US. The last time a new oil refinery came online was 1976.
2/17/12 update: Although I wrote this post almost a year ago, it is by far and away my highest-grossing post for views with numerous hits every single day. Obviously, energy costs are a hot topic. By clicking on the links provided for Arizona Clean Fuels and Hyperion, you’ll find where the companies are in the process. One must look at the unfavorable regualtion climate of the Obama administration to understand why progress is so SLOW on these much-needed refineries.
Yes, this really helps move the oil OUTSIDE the state of North Dakota...
Or does it?
Seems you keep missing the point altogether...especially if you claim to have seen Warren Buffet talk about railroads this morning.
he doesn;t like WB because he is not a true american as norris said. And is in Ob's back pocket as he said. But norris buys what WB recs. Interesting the dog scratches but the fleas remain on him.
Thank you Sand.
I did by accident see it this morning. I like and value Joe Kernen shows very much. But it is at a time in the morning when the home is in full motion.
The engines are coming from the likes of GE and Cummins. But not as quickly as free market economic would drive due to Obama causing maximum uncertainty around irrational fracturing regulations and the insanity of taxing viable American energy for yet more solar, wind and ethanol delusions.
Still it is something which is not included in rr valuations. Switching even 10% of the fuel bill to ng rather than diesel would be massive to margins and true FCF.
No one could overstate the chilling impact Obama;s self absorption and hubris causes in economic growth. Not counting a clearly seen opportunity into rr valuations is all Obama not technology or available supply.
A mixed energy engine / locomotive is coming. Diesel for when horse power is needed and ng for cruising.
What a shame American environmentalists have created a primitive stone age religion out of the foundation of scientific conservation and true/real efficiency.