RE:RE:Strong BUY - 58$I'll take that bet Fiddy. Line 3 is a completely different situation than KXL. Line 3 is replacing an aging pipeline that proposes risks to the environment everyday that it stays in operation.
Not only does the American government want that pipeline open, they want it opened quickly.
The Native Americans that have the old Line 3 running through their land want it open and open quickly!
No one is shutting down an already approved and permitted construction project without compensating the builder for the wasted time and effort. After all it was approved and permitted by the American government. Shutting down construction will cost the American government big time and Enbridge is not afraid to take them to court to compensate.
$50+ is money in the bank and I for one plan to add to my position.
FreeAtFiddy wrote: "As a reminder, our fair value includes the probability that Line 3 is built".
While Line 3 looks "so far so good", I wouldn't take that Fiddy eight dollar share price to the bank quite yet. Never know what Sleepy Joe will do with one swift stroke of a pen, especially with a democrat control senate. First Keystone, next Line 3 ? Never say never, it's a brave new world, a world where where Oil is BAAAAAD, and Green is GOOOOOD (check Tesla's share price lately ?)
"A long and winding road", that just about sums up Enbridge doesn't it ? And even with such a stellar Morningstar blurb, the old b!tch we call Enbridge still managed a red close at the end of the trading week. Go figure...
Red wrote :""A long and winding road", that just about sums up Enbridge doesn't it ? "