Revenge of the Keystone XL Pipeline
Mastery still likes TransCanada Corporation (NYSE:TRP), Exxon Mobil (NYSE:XOM), and PetroChina Company Limited (ADR) (NYSE:PTR) despite the odds as we pointed out in The Stocks of the Keystone XL Pipeline.
Here's why -- Keystone XL Pipeline Seen Moving Ahead on Alternative Route
(Bloomberg.com) Jan. 19 -- TransCanada Corp.’s $7 billion Keystone XL oil pipeline still will move ahead with an alternate route after President Barack Obama’s decision to deny a permit, investors, public officials and analysts say.
Obama blamed congressional Republicans yesterday for imposing a deadline on his decision, which he said left no time to approve the project. His administration invited TransCanada to reapply, an overture the Calgary-based company promptly said it would accept.
Denying the permit pushes a final decision on the pipeline into 2013, safely past this year’s presidential election. John Stephenson, who helps manage $2.7 billion for First Asset Management Inc. in Toronto, said he bought 350,000 shares yesterday as TransCanada fell the most in 18 months. Continue..
MASTERY Bottom line:
Big oil always wins. We aren't going to fight it, rather join in with their profits.
Its time to consider picking up shares of TransCanada (TRP), Exxon Mobil (XOM), and PetroChina (PTR).
Best of the Blogs
Scanning and identifying the best blog entries every hour
- J-Holed: Stocks Slide After "Good" Yellen, "Bad" Powell, & "Ugly" Fischer | ZeroHedge
- The Reckoning Looms - Central Bankers Really Don't Know What They're Doing | ZeroHedge
- EpiPen-demonium Drags Stocks To Worst Drop Since Brexit | ZeroHedge
- With Janet Yellen Just Hours Away, Directionless Markets Wait For A Signal | ZeroHedge
- Hillary Claims She "Kept Americans Safe" As Secretary, Was "Not Influenced By Any Outside Forces" | ZeroHedge
- Buy Gold's August Dip? Gold's Monthly Sweet Spot In September as Chaotic Election Looms | ZeroHedge
- How to Leave the European Union | Financial Sense
The most relevant financial news and articles from the Internets
- PSYCHOLOGIST: Here's why empathy is a bad thing | Business Insider
- 10 travel gadgets for a stress-free trip | Business Insider
- Brands are playing a 'deadly game of Russian roulette' with... | Business Insider
- ... | Business Insider
- UberEats is eyeing a slice of a billion dollar market... | Business Insider
- Here's everything coming to Netflix in September that you must watch | Business Insider
- I've used a meditation app loved by Wall Streeters and Olympic athletes daily for the past 8 months, and now I can't... | Business Insider