Energy crisis: Enbridge Inc. vs. Suncor Energy
Enbridge Inc.’s stock continues to hold strong amid an energy crisis in Europe that’s pushing oil and gas prices through the roof.
In 2016, the merger with Spectra Energy — a U.S. based company which focuses on the distribution, storage, and processing of natural gas — allowed Enbridge to acquire a major natural gas pipeline, transporting gas from the Gulf of Mexico to New York City, among other pipelines. However, Enbridge faces challenges as environmental regulators work to inhibit the expansion of pipelines — the most notable being the Dakota Access Pipeline protests and the Stop Line 3 protests.
The company’s strength relies not just in the extraction of oil, but also in its retail network of Petro-Canada, as well as Shell and ExxonMobil outlets in Colorado. It’s expansion in the retail space acts as a buffer when oil prices are down and provides a more stable cash flow, Vallance said.
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