The Successful Investor Hotline – Friday, December 20, 2013

Article Excerpt

PLEASE NOTE: This is our last Hotline for 2013. Our next Hotline will go out on Friday, January 3, 2014. ENBRIDGE INC., $45.35, Toronto symbol ENB, has won regulatory approval for its Northern Gateway pipeline. Northern Gateway will pump crude from Alberta’s oil sands to Kitimat, B.C. From there, tankers would ship the oil to customers in Asia. Building this project will cost $6.5 billion. That’s equal to 17% of Enbridge’s $37.6-billion market cap (or the value of all of its outstanding shares). Regulators also imposed 209 conditions on Enbridge, including carrying liability insurance of $950 million to cover the cost of cleaning up any potential oil spill. The project still faces strong opposition from environmentalists, First Nations and the B.C. provincial government. However, it seems likely that the federal cabinet will grant final approval within the next six months. If so, the pipeline could begin operating in 2018. Enbridge is a buy. Please make sure you are logged in to your account to…