Email of the day (3)
Comment of the Day

May 14 2013

Commentary by Eoin Treacy

Email of the day (3)

on Whole Foods Markets and the Keystone Pipeline
“Wow, take a look at the upward dynamic in WFM - my favorite Whole Foods Markets :)

“I am attaching an excellent record of the recent testimony before the US Congress by Paul C. Chip Knappenberger regarding the potential climate impacts of the Keystone XL pipeline.  Despite Chip's excellent testimony and scientific research, I believe it is likely that Obama will veto the pipeline, leaving Canada with no choice but to increasingly partner with the Chinese in accelerating the construction of westbound pipelines to West Coast ports in British Columbia, where construction of port facilities is continuing apace.

“I phoned the Cato Institute and received permission for republishing of this testimony to Fullermoney subscribers; with the proviso that we include a link back to their website (which should be already in the PDF).”

Eoin Treacy's view Thank you for this informative common sense testimony, for seeking permission to reproduce it and for highlighting Whole Foods Market's recent strength.

Whole Foods remains on a growth trajectory and its ambitious international expansion continues to be funded by its domestic US success. The share lost momentum from October but its consolidation was limited to a relatively similar sized reaction to that posted in 2011. It surged last week to post a new high and a sustained move below $20 would be required to question medium-term scope for continued upside.

Much of the controversy surrounding the Keystone Pipeline has to do with the wider anti-fossil fuel agenda rather than the particular attributes of the project. It is looking increasingly likely that anti-tar sands lobbyists will succeed in blocking transit of additional Canadian energy products through the USA. As mentioned previously, this is an issue of significant national interest to Canada and ensures that additional export markets for Canadian energy resources will be developed.

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