ENB info...remember ENB?Al Monaco was scheduled to appear on a CIBC Western Virtual Conference today and the event was schuduled to appear on the website.
The late day cross was 3.4mm shares which was down from yesterday but still more that the rest of the day. The Buyer got off easy today is he/she/it only spent $150 million dollars.
I find it interesting that Suncor is not taking a stronger stand on Whitmer's Line 5 decision. Line 5 moves up to 540,000 BOE per day. Line 5 supplies the 85,000 BOE per day Suncor refinery in Sarnia and feeds SU's 137,000 BOE refinery in Montreal. Those refineries produce gasoline for SU's Petrocan stations in Ontario and Quebec as well as other end products.
While the talk about Line 5 centers around ENB, I suspect that a Line 5 closure would have a much larger impact on SU then ENB. Line 5 supplies two of four Suncor refineries which are located in Sarnia and or supply of its two eastern Canadian refineries which produce gasoline for their PetroCan gas stations in Ontario and Quebec.
Maybe SU isn't sweating a Line 5 closure because Birkshire Hathaway (who owns 19.2mm shares of SU) have given Suncor officials the nod. Imagine how Warren and his pals could smooth the way for ENB if they owned 700 million shares.