RE:And then there is the truth about EV'sObscure...Yes there is a lot that is going on "under the hood" WRT to ENB..
In addition to the movement to the US and a greater emphasis in natural gas untilities, the company is also making strides in the area of shipping RNG with signed deals with major landfill operators to ship the RNG produced from their landfills. In fact right now, this industry is getting so big that ENB can only take 5% of the RNG produced from a single landfill operated by GFL. This is a growing business and ENB is on the groundfloor. ENB is also doing research into practical ways to ship hydrogen through its pipelines (as the engineers here will know - this is not an easy thing due to the properties of H2).
ENB also spends about a billion dollars a year powering its pipeline system. It has already signed deals to use solar energy where practical to power some of its compressor stations. It is in early talks with companies that can produced dispatchable electricity power from natural gas, bio fuels and hydrogen. All of this will save costs and enhance the bottom line.
The other key thing, Obscure, that you imply is that going forward, is that oil will become less and less important to the bottom line of ENB and so as the world weans itself off of oil, ENB will be expanding in other areas and reducing its operating costs to make up for it.
From the perspective of a pragmatic investor, it is my view that these developments have not as yet been fully priced into the SP of ENB. The reason being IMO is that they are long term, not clearly understood by many people and frankly, not sexy.