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
- Fed Members Reach Peak Complacency | ZeroHedge
- The Most Hated Bull! | Financial Sense
- Europe Moves to Reduce Energy Dependency on Russia | Financial Sense
- Cheap Natural Gas Triggers Major Industrial Expansion Plans In the U.S. | Financial Sense
- The Dude Abides: China in the Golden Age of Central Bankers | Financial Sense
- Obama, The 'Fiddling' Optimist | ZeroHedge
- At Least Wall Street Has A Sense Of Humor | ZeroHedge
The most relevant financial news and articles from the Internets
- Dropbox Stays Ahead Of Amazon With Big File-Syncing Upgrade | Business Insider
- Pre-Open... | StreetInsider.com
- Jim Cramer's Top Stock Picks: DF MNST BDSI | TheStreet.com
- The Quest To Kill Cash: New Apps Are... | Business Insider
- New York Times' Sports Section Has A Perfectly Simple Front Page... | Business Insider
- Argentina Vs. Germany: Which Nation Wins at Life? | TheStreet.com
- Supply Chain Management: The Next Big Thing? | BusinessWeek