Enbridge concerned about winter natural gas pricing
Al Monaco, President and CEO of pipeline operator Enbridge (IN B) – Get the report from Enbridge Inc.Jim Cramer told a recent episode of Mad Money that he was worried about prices in the Northeast before the winter months.
Monaco pointed out that the distribution of natural gas is not as globally interconnected as oil, which means the North East and other regions, like Europe, will experience higher prices as infrastructure is struggling to meet demand driven by the rebound in economic activity and winter conditions.
On Real Money, Bruce Kamich recently wrote that “ENB charts and indicators are bullish, so traders may be approaching the long side.”
Monaco also discussed Enbridge’s plans to achieve net zero emissions by 2050. Although as a pipeline operator, Enbridge is not a huge carbon emitter, it will still require an “everything” approach. above ”to achieve the goals of net zero, according to Monaco. The company will use new technologies, including self-powered solar installations, as well as conservation efforts.
While this may seem surprising or even ironic for a company that uses fossil fuels to plan for zero emissions, Monaco explained that a lot has changed at Enbridge over the past four years. He said his company delivers critical energy to the best markets in North America and does so with an emphasis on safety and reliability. Enbridge provides predictable cash flow that it puts into the ground and returns to shareholders as well. The record is also very good, he added.