Stocks Loving the Downfall of the Keystone XL
There were a select few companies disappointed about the prolonged decision on the Keystone Pipeline, however, there is always two sides to a story. Here are a couple companies pretty darn excited about the denial decision. Andrea Tse explains why these stocks are celebrating.
Energy stocks that could benefit most from a real setback for the Keystone Pipeline project would include U.S. Bakken Shale as well as alternative energy plays, as less U.S. imports of Canadian oil essentially could lead to a better guarantee of demand for their products, say analysts. Importantly, Bakken Shale producers would also benefit from the additional support of the U.S. benchmark WTI price — factoring in the long-term potential reduction of supplies from Canada. Shale names included in this category are Hess(HES_), Continental Resources(CLR_) and Whiting Petroleum(WLL_), according to managers.
Keep and eye open for the outcome of this story. Your energy stocks could be greatly impacted depending on the final decision that is finally given. We will try to give you a heads up here too!
Quotes taken from report by Andrea Tse, Read the entire article here.
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