Re: EEQ... am quite negative on all things Enbridge -- they have a few related stocks that are pure equities and then various MLPs, etc., but their core biz is pipelines... the longest (and one of the oldest) in North Am.
Now, everyone here and elsewhere may recall that I had very little good to say about BP well before the GoM disaster (and I've worked in oilpatch so many years that I've had BP as a client for three different companies).
The thing is, BP always had a reputation for cutting corners on maintenance, safety, etc.
Enbridge has a similar history. And in fact, one of their arms just had a rather large spill into the Kalamazoo River that empties into Lake Mich.
I would caution people that Enbridge is a major disaster waiting to happen, IMO.
Just like BP, many of the Enbridge are stellar from an investor's viewpoint, but sooner or later, their seeming aversion to required maintenance and safety issues will bite shareholders hard.
And on a personal level, I lived in Kalamazoo for much of the 1970s and am sick at what Enbridge did there -- entirely preventable, but like BP, was simply trying to save a few bucks out of (IMO) pure greed.
I'm just saying...
It's your money, but if you care about where it's invested and what the folks are doing (or more importantly, what they should be doing, but apparently aren't) with your money, you might want to think twice or thrice about adding any Enbridge to your holdings.
/rant
Jim |
