Calgary Herald, by Mike Ridewood, Canadian Press. So much for all the hand-wringing over the fate of TransCanada Corp.’s mega-projects. Investors are looking beyond Keystone XL and Energy East.
The company’s stock has been rallying since it announced the $10.2 billion acquisition of Columbia Pipeline Group Inc. in March, breaking out above rival Enbridge Inc. and beating an index of Canadian energy peers. The deal is letting investors shake off President Barack Obama’s rejection of Keystone XL, TransCanada’s most well-known project, as well as all the hurdles facing the even bigger $15.7 billion line that would link the oilsands to Canada’s Atlantic coast.
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