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A Game Changer for Canadian Oil

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The Trans Mountain Expansion (TMX) project runs from Edmonton, Alberta, to the Westridge Marine Terminal and the Chevron refinery in Burnaby, British Columbia. Photo courtesy of the Government of Canada.

The new 715-mile-long Trans Mountain Pipeline in Canada will add 590,000 barrels a day of capacity to Canadian oil producers for export. Fidelity portfolio manager Peter Belisle calls the pipeline a “game changer for Canadian oil producers.” Fidelity reports:

“This new pipeline gives Canada significantly greater access to world markets,” says Belisle. “And I believe the broader market is underestimating the impact here.”

He adds that the Canadian energy sector has the potential to “meaningfully improve its environmental profile” via Pathways, a carbon capture and sequestration program, or CCS, that is being developed by an industry group.

Oil sands, the type of crude deposits found in many of Canada’s oilfields, are well-suited to CCS applications, given their large, concentrated sources of carbon dioxide. The CCS program recently appointed Derek Evans, the former CEO of oil-sands producer MEG Energy, as executive chair. Belisle says he has high confidence in Evans’s ability to direct this program.

Action Line: Owning hard-to-replicate infrastructure can be an advantage for companies. The Trans Mountain Pipeline was so difficult to build that Canada’s government had to do it. It’s not easy to license rights of way. If you want to talk about owning infrastructure businesses and companies with hard-to-replicate models, I’m here. In the meantime, click here to subscribe to my free monthly Survive & Thrive letter.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.
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