“Badly needed energy infrastructure is being held back by special-interest groups, entrenched bureaucracies and radical activists.” That statement this week from President Trump is bound to elicit more than a few “amens” from oil and gas pipeline developers.
The president announced two sweeping executive orders aimed at jump-starting projects stalled by adverse court rulings and state permitting delays. One would rein in state governments’ power to use Section 401 of the Clean Water Act to deny construction permits. It would also direct US agencies to loosen regulation on shipping LNG by rail and truck, seek measures to limit shareholders’ ability to alter companies’ environmental policies and challenge ESG focused retirement funds on the grounds they’re neglecting fiduciary responsibility.
We’re watching closely for any sign of revived activity at delayed natural gas projects such as the Atlantic Coast Pipeline and the Mountain Valley Pipeline, as well as challenged oil pipes like Enbridge Inc’s (TSX: ENB, NYSE: ENB) upgrades of Line 3 in Minnesota and Line 5 in Michigan.
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In October 2012, renowned energy expert Elliott Gue launched the Energy & Income Advisor, a twice-monthly investment advisory that's dedicated to unearthing the most profitable opportunities in the sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.
Elliott and Roger on Jul. 1, 2019
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