Energy Biz Recap: Enbridge Could Be Hit With More FINES, Patriot Bankruptcy AFTERMATH
Tuesday should see the release of the Federal authorities’ findings concerning a crude oil spill from an Enbridge (NYSE:ENB) pipeline, which is said to have contaminated a Michigan river two years ago. Already, the firm has shelled out nearly $700 million for cleanup costs linked with the spill, and additional penalties or fines could be levied.
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Ramifications, i.e. chatter, continue to absorb Wall Street from the Patriot bankruptcy on Monday. Curt Woodworth at Nomura says to ‘use the weakness to enhance the attractively-valued CONSOL (NYSE:CNX) and Alpha Natural (NYSE:ANR) shares’, but he stays bearish on Arch Coal (NYSE:ACI) and Neutral on Peabody (NYSE:BTU). At the same time, Raymond James recommends buying the present opportunity on Alpha Natural and Peabody.
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