Enbridge CEO applauds Trump rollbacks: ‘step in the right direction'

Core Viewpoint - The Trump administration's decision to rescind the 2009 endangerment finding on greenhouse gases is expected to have significant implications for the oil, gas, and renewable energy sectors, potentially benefiting companies like Enbridge that operate across these industries [1][2]. Industry Impact - The change in air pollution regulations is seen as a positive development for Enbridge, which handles approximately 30% of North America's oil and 20% of the natural gas consumed in the U.S. The company's stock has risen to a record high, increasing by 4% to $53.91 [2]. - Enbridge has added $14 billion to its project backlog, reaching a total of $39 billion, which includes investments in oil and gas pipelines as well as renewable energy projects [7]. Regulatory Environment - The shift in regulatory clarity is viewed as a move towards consistency in energy policy, which is crucial for capital allocation and investment across various energy forms [4][5]. - The potential for legislative and legal challenges to the new regulations exists, but the overall sentiment is that this change could foster a more stable energy policy landscape [5]. Consumer Benefits - The new regulations are expected to benefit consumers by potentially lowering energy prices, particularly in regions where natural gas prices have surged [9][10]. - Enbridge emphasizes the importance of affordable energy for consumers across North America, regardless of the energy source [10]. Renewable Energy Projects - Enbridge is actively involved in renewable energy projects, including significant solar and wind initiatives in states like Wyoming and Texas, indicating a commitment to a diverse energy portfolio [19][20]. - The company recognizes the need for various energy sources to meet growing demand, particularly from data centers and tech companies [12][14]. Oil Supply Dynamics - The introduction of Venezuelan oil into the North American market is expected to create additional opportunities for pipeline infrastructure, with Enbridge moving about 3.5 million barrels a day from Canada [22][24]. - The company anticipates that the combination of Canadian and Venezuelan oil supplies will enhance its operational capacity and support domestic and export markets [24].