The wait has been long, and�still�there is no resolution. On Friday afternoon, the U.S. Department of State released its supplemental environmental impact statement (SEIS) related to the Keystone XL pipeline project proposed by TransCanada Corp. (NYSE: TRP) to transport 830,000 barrels a day of western Canadian and northern U.S. Plains crude oil to Steele City, Nebraska, where it would link up with existing pipelines to continue on to the Gulf Coast.
Regarding the impact of the pipeline on petroleum markets, the SEIS notes:
The updated market analysis in this Supplemental EIS��imilar to the market analysis sections in the 2011 Final EIS and 2013 Draft Supplemental EIS��oncludes that the proposed Project is unlikely to significantly affect the rate of extraction in oil sands areas (based on expected oil prices, oil-sands supply costs, transport costs, and supply-demand scenarios).
Whether Keystone XL is built or not, oil sands development will continue and the oil will find its way to market by alternate pipelines, rail tankers, and barges.
Best Clean Energy Companies To Invest In 2015: Encana Corporation(ECA)
Encana Corporation and its subsidiaries engage in the exploration for, development, production, and marketing of natural gas, oil, and natural gas liquids. The company owns interests in resource plays that primarily include the Greater Sierra, Cutbank Ridge, Bighorn, and Coalbed Methane resource plays located in British Columbia and Alberta, as well as the Deep Panuke natural gas project offshore Nova Scotia in Canada. It also holds interests in resource plays comprising the Jonah in southwest Wyoming, Piceance in northwest Colorado, Haynesville in Louisiana, and Texas resource play, including east Texas and north Texas. The company serves primarily local distribution companies, industrials, energy marketing companies, and other producers. Encana Corporation was founded in 1971 and is headquartered in Calgary, Canada.
Advisors' Opinion:- [By David Smith]
Other fracking goings-on
The Environmental Protection Agency continues to move forward with its nationwide study of the potential effects of hydraulic fracturing on groundwater and drinking water. A resulting report is expected to be released in 2014. In the meantime, 31 experts from universities, scientific laboratories, and industry have been appointed to review what promises to be a landmark document. The EPA also has abandoned its interminable and controversial research into whether fracking by Encana (NYSE: ECA ) fouled the water table in Pavillion, Wyo. The effort was a follow-up to a 2011 study by the agency, which purported to find a connection between Encana's operations and the contamination of an aquifer, has been turned over to Wyoming officials. They plan to release a final report next year. The Obama administration has set forth a proposed rule requiring oil and natural gas companies that drill on federal land to disclose the chemicals used in their hydraulic operations. It also would establish standards for well construction and waste disposal.
While water is likely to remain a key consideration for hydraulic fracturing for years to come, there are several other items of importance currently swirling about with regard to unconventional drilling, which has been responsible for a 30% increase in U.S. oil reserves and a 90% incrasee in our gas reserves:A Foolish takeaway
Hydraulic fracturing, it seems, will always be a target for environmental grousing and federal nitpicking. It seems unlikely, however, that it will ever be severely curtailed. On that basis, I'm increasingly becoming a proponent of Chesapeake Energy (NYSE: CHK ) , especially under its new management.
Top Canadian Stocks To Invest In 2014: Barrick Gold Corporation (ABX)
Barrick Gold Corporation engages in the production and sale of gold, as well as related activities, such as exploration and mine development. The company has a portfolio of 25 operating mines and a pipeline of projects located in North America, South America, the Australia Pacific region, and Africa. It also produces copper and holds interests in oil and gas properties located in Canada. The company was founded in 1983 and is based in Toronto, Canada.
Advisors' Opinion:- [By Jim Jubak]
As of 3:00 PM New York time yesterday, shares of Newmont Mining were down 3.65%; Goldcorp (GG) was lower by 2.85%; Yamana Gold (AUY) was off 2.84%; Barrick Gold (ABX) had dropped 3.17%, and Randgold (GOLD) had declined 1.37%. Goldcorp and Yamana Gold are members of my Jubak's Picks portfolio.
- [By Eric Lam]
Barrick Gold Corp. (ABX) and Goldcorp Inc. climbed at least 1.5 percent as gold advanced. Teck Resources (TCK/B) Ltd. and First Quantum Minerals Ltd. rallied more than 1.5 percent as copper rose. Endeavour Silver Corp. surged 8.3 percent as the metal�� price increased the most since January. Royal Bank of Canada and Toronto-Dominion Bank, the nation�� largest lenders, added more than 0.5 percent amid better-than-estimated housing data.
- [By Peter Krauth]
On August 1, the world's largest gold miner, Barrick Gold (NYSE:ABX) said it was writing down $8.7 billion on a single project, Pascua-Lama, located on the border between Chile and Argentina.�
Top Canadian Stocks To Invest In 2014: China Metro-Rural Holdings Limited(CNR)
China Metro-Rural Holdings Limited, through its subsidiaries, primarily engages in the development and operation of agricultural logistics and trade centers in northeast China. It also involves in purchasing, processing, assembling, merchandising, and distributing pearls and jewelry products. The company markets its pearls and jewelry products to wholesale distributors and mass merchandisers in Europe, the United States, Hong Kong, and other parts of Asia. In addition, it develops, sells, and leases residential and commercial properties in Hong Kong and the People?s Republic of China. The company is based in Tsimshatsui, Hong Kong.
Advisors' Opinion:- [By Katie Brennan]
Canadian National Railway Co. (CNR) added 0.9 percent to C$104.93 and Canadian Pacific Railway Ltd. rose 1.7 percent to C$131.73.
Niko Resources surged 3.4 percent to $8.64 after the company entered an agreement for a $60 million loan that will be funded by a group of institutional investors. Net proceeds from the loan will be used to fund working capital requirements.
Top Canadian Stocks To Invest In 2014: Gildan Activewear Inc.(GIL)
Gildan Activewear Inc. engages in the manufacture and sale of apparel products primarily in the United States, Canada, and Europe. It sells T-shirts, fleece, and sport shirts to wholesale distributors under the Gildan brand name. The company also provides its activewear products for work and school uniforms and athletic team wear, and other purposes to convey individual, group, and team identity. In addition, it offers undecorated products to branded apparel companies and retailers; and underwear products. Further, the company markets its sock products under the various brands, including Gold Toe, PowerSox, SilverToe, Auro, All Pro, GT, and the Gildan brand. The company was formerly known as Textiles Gildan Inc. and changed its name to Gildan Activewear Inc. in March 1995. Gildan Activewear Inc. was founded in 1984 and is headquartered in Montreal, Canada.
Advisors' Opinion:- [By Eric Volkman]
Gildan Activewear (NYSE: GIL ) just bought itself a new wardrobe. The company announced it has acquired "substantially all of the assets" of privately held screen printing and apparel decoration specialist New Buffalo Shirt Factory for around $7 million.
- [By Tom Stoukas]
Deutsche Lufthansa AG (LHA) and Allianz SE (ALV) led airlines and insurers lower, retreating at least 1.5 percent. Bayerische Motoren Werke AG (BMW) slid 1.6 percent. Deutsche Bank AG (DBK) rose after JPMorgan Chase & Co. boosted its recommendation on the shares. Gildemeister AG (GIL) added 3.4 percent after Deutsche Bank upgraded the maker of cutting tools.
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