Canada has the natural resources to be a global energy leader, but political and regulatory hurdles continue to block progress. Enbridge (TSX:ENB)(NYSE:ENB) CEO Greg Ebel argues that while the country has everything it needs, including oil, natural gas, uranium, and more, federal rules are discouraging investment.
Alberta’s recent $14 million commitment to explore a pipeline to northwestern B.C. has already run into criticism, with B.C. Premier David Eby calling it “not a real project” because of the federal oil tanker ban. Ebel agreed, saying there is no business case for building infrastructure “to nowhere.”
Frustration from the energy sector has been building. Enbridge has sent two letters to Prime Minister Mark Carney this year, urging Ottawa to scrap the emissions cap and industrial carbon levy while creating a consistent national framework that would attract capital. Ebel welcomed Carney’s “build, baby, build” message on election night but stressed that action is now needed to turn those words into reality.
Whether the letters and plead to Carney will pay off is debatable at this point. But what’s clear is that Enbridge still remains a standout option for long-term investors. It is North America’s largest energy infrastructure company and offers one of the most reliable dividends in the market. The stock currently yields 5.4% and has raised its payout for 30 consecutive years, backed by 19 straight years of meeting its financial guidance.
Growth prospects are strong as well. Enbridge’s $14 billion acquisition of U.S. natural gas utilities from Dominion Energy expands its regulated asset base and positions it for long-term earnings growth. Year to date, shares are up 16%, making Enbridge a compelling option for income-focused investors seeking stability.
