Guilbeault: 'As far as I know' no companies want to build east-west pipeline
Minister of Canadian Identity and Culture Steven Guilbeault was asked about comments from Alberta Premier Danielle Smith, who has labelled him as anti-pipeline. Guilbeault said Wednesday the TransMountain pipeline is being used at 40 per cent capacity, but the company reported late last year it was using more than 75 per cent.
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Globe and Mail
21 minutes ago
- Globe and Mail
Security at G7 summit aims to keep delegates safe and protests far
The world's most powerful leaders are scheduled to converge in Kananaskis, a tiny Alberta tourist village in the Canadian Rockies, for a three-day summit starting Sunday, testing security services tasked with keeping everyone safe. Airspace restrictions kick in Saturday. Royal Canadian Air Force helicopters have been flying low-level nighttime missions in the area for a week now. And this spring, more than 200 local kids picked buffaloberry bushes around Kananaskis, to keep the bears away. As it hosts G7, Canada under pressure to further boost military spending by tens of billions The RCMP is leading the security effort at the G7 Leaders' Summit, working with the Calgary Police Service, provincial sheriffs and conservation officers, the Canadian military, and foreign governments, which will bring their own demands - and security details, to the global gathering. Thousands of participants are expected to descend on Kananaskis, Banff and Calgary. While Prime Minister Mark Carney hosts his global counterparts in Kananaskis Country, better known as K-Country in Alberta, the world's media will be working out of Banff. Organizers hope demonstrators will contain themselves to four designated spots – one in Banff and three in Calgary – far from leaders cloistered in the mountains. And security is about more than keeping delegates and demonstrators safe. It is about dazzling foreigners. While the helicopters and motorcades will be obvious, the public will likely be unaware of most of the measures. 'You are putting on a show for world leaders,' said Shiv Raj, a tour coordinator who previously worked for former prime minister Stephen Harper and Ontario Premier Doug Ford. 'Good security – you never see. Great logistics – you never hear about.' Explainer: The G7 summit is being held just outside Calgary. Here's who will be there and what these meetings achieve The Group of Seven is comprised of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The European Union also participates in the G7. Mr. Carney has invited leaders from Brazil, South Africa, India, the United Arab Emirates, South Korea, Mexico, Ukraine and Australia, the presidents of the European Commission and World Bank and the NATO secretary-general. The Rocky Mountains provide natural fortification to the summit site. Remote, secure locations can foster an intimacy among leaders that is not otherwise possible. Mr. Raj noted former U.S. president Barack Obama and Mr. Harper were able to steal away for a 10 to 12 minute stroll at the G8 in Northern Ireland in 2013. Cameras, but not microphones, captured their encounter. That level of privacy and casualness, conducive to building relationships, is not possible in cities such as Calgary or communities such as Banff, Mr. Raj noted. Laryssa Waler, the founder of Henley Strategies and the lead media coordinator for the papal visit to Canada in 2022, expects layers of backup plans. Vehicles and helicopters will be at the ready in case anyone needs to make a quick exit. Generators will be fired up immediately should the electricity fail. 'There's contingencies for contingencies,' she said. For G7 leaders, immense global challenges weigh on agenda overshadowed by Trump Security planning for the gathering has been underway for more than a year, according to Superintendent Joe Brar, the G7 event security director for the Calgary Police Service. Officers from Vancouver, Winnipeg, Edmonton and Tsuut'ina Nation will help CPS with its duties. Supt. Brar said police are speaking with groups planning to demonstrate during the G7. These small groups could glom together to form sizable protests in Banff and Calgary, far from the summit. The nearest RCMP-approved protest site – known as a Designated Demonstration Zone or DDZ in G7-speak – is a parking lot on the edge of Banff, roughly 80 kilometres west of the village of Kananaskis. RCMP, in a statement in May, said environmental and municipal concerns factored into the location decision. 'It took into consideration the safety of protesters as well as its accessibility and visibility to the main route leading to the G7 International Media Centre' at the Banff Centre for Arts and Creativity. That, and RCMP said locals were not keen on demonstrators crowding downtown. RCMP approved three demonstration locations in Calgary: one at city hall, another in a park near the Stampede grounds and one at Edward H. LaBorde Viewing Area, where plane-spotters hang out on the public side of the security fence at Calgary International Airport. The sites near city hall and the Stampede grounds will be decked out with 'infrastructure to broadcast demonstrators' messages to G7 leaders' gathered in the mountains about 100 kilometres west of these downtown locations. 'Protesters will be encouraged to use these spaces to be both seen and heard,' the RCMP statement said. With files from The Canadian Press
Globe and Mail
21 minutes ago
- Globe and Mail
Enterprise Products Down 2.7% in 3 Months: Should You Avoid EPD Stock?
Units of Enterprise Products Partners LP EPD declined 2.7% over the past three months compared with the 3.8% fall of the composite stocks belonging to the industry. With limited capital expenditure flexibility and oil price sensitivity to hurt its business, should investors avoid EPD stock? To answer this billion-dollar question, let's delve into the partnership's fundamentals and business outlook before coming to the investment conclusion. EPD's High Capital Commitments With Limited Flexibility Enterprise Products is spending $7.6 billion on growth midstream projects, comprising building new pipelines, gas processing plants and export facilities that are currently under construction. However, on its first-quarter earnings call, the partnership disclosed that a large portion of its planned 2026 spending, between $1.8 billion and $1.9 billion, is already allocated to completing projects that have been formally approved. These projects have passed the Final Investment Decision (FID) stage, indicating that construction is in progress and the company is firmly committed to moving forward with them. Because of this, even if Enterprise Products' business market environment gets worse, it can't easily reduce or delay this spending, which is a big risk to the midstream energy giant's operations. This is because EPD may end up with lower-than-expected returns on these major investments if the economy weakens. Oil Price Sensitivity May Hurt Enterprise Products' Business Enterprise Products relies heavily on oil prices since it has a strong presence in the Permian. Shippers utilize EPD's pipeline networks to transport crude from the most prolific basin of the United States to the end market or refineries. This confirms that Enterprise Products' midstream business is sensitive to oil prices. For the long term, EPD generally expects the price of West Texas Intermediate (WTI) to hover around $65 per barrel. However, on the earnings call for first-quarter 2025, the partnership expressed a more cautious outlook that oil will trade at $55 or even $60 per barrel in the next three to five years. The partnership mentioned that at $55 to $60 per barrel, producers are generally capable of maintaining current production levels and mostly stop investing in new drilling. Thus, it seems that EPD expects oil production to slow down due to declining oil prices. Once there is a slowdown in volumes, there will be lower demand for the partnership's pipeline network, which could hurt its revenue generation in the coming years. Should Investors Get Rid Of EPD Stock? Although EPD generates stable fee-based revenues like Kinder Morgan KMI and Enbridge ENB, investors should stay away from the stock, given the business challenges. Considering KMI's business, it operates an extensive network of pipelines spanning 79,000 miles, transporting natural gas, gasoline, crude oil and carbon dioxide. In addition, the company owns 139 terminals that store a variety of products, including renewable fuels, petroleum products, chemicals and vegetable oils. As a leading midstream service provider, Kinder Morgan's pipeline and storage assets are secured under long-term take-or-pay contracts, generating almost two-thirds of its EBITDA. These contracts ensure the stability of Kinder Morgan's business. Similarly, Enbridge benefits from the long-term, fee-based nature of its midstream operations. Its pipelines transport 20% of the total natural gas consumed in the United States. The company generates stable, fee-based revenues from these midstream assets, as they are booked by shippers on a long-term basis, minimizing commodity price volatility and volume risks. Adding to its stability, ENB will generate incremental cash flows from its C$28 billion backlog of secured capital projects, which include liquids pipelines, gas transmission, gas distribution and storage, and renewables. The maximum in-service date is 2029. Coming back to EPD's valuation story, the partnership is currently trading at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 10.27x. This represents a discount compared with the broader industry average of 11.63x and midstream giants like Kinder Morgan and Enbridge, which trade at 14.25x and 15.39x, respectively. Image Source: Zacks Investment Research To conclude, although Enterprise Products' business model is backed by long-term contracts and the stock is currently undervalued, considering the ongoing business challenges, investors should get rid of the stock, which may witness further decline in unit prices. The partnership currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enterprise Products Partners L.P. (EPD): Free Stock Analysis Report Enbridge Inc (ENB): Free Stock Analysis Report Kinder Morgan, Inc. (KMI): Free Stock Analysis Report
Globe and Mail
21 minutes ago
- Globe and Mail
CrowdStrike Bets Big on Next-Gen SIEM: Will it Fuel Growth Momentum?
CrowdStrike CRWD is doubling down on the next generation of Security Information and Event Management (SIEM) as part of its mission to protect enterprises against evolving cyber threats. The company's Falcon Next-Gen SIEM is modernizing the way businesses detect, investigate, and respond to security incidents. Unlike traditional SIEM tools that often struggle with high costs, complexity, and data overload, CrowdStrike's solution is designed to deliver faster insights at lower operational costs. By integrating SIEM with its Falcon platform, the company is providing end-to-end visibility across devices, cloud workloads, and user identities. Enterprises could now leverage the CrowdStrike Falcon agent to automate data collection for endpoints and cloud workloads. CRWD also unified adversary-driven detection across all data sources, implemented AI-based investigations and systemized response workflows through Falcon Fusion SOAR. The Next-Gen SIEM also provides 24/7 managed detection and response services. CrowdStrike's Next-Gen SIEM also brings in scalability through cloud-native operations, improved compliance support and advanced analytics. The solution ensures seamless integration of cloud with endpoint tools, making its implementation convenient for CrowdStrike's enterprise customers. To enhance its Next-Gen SIEM platform, CrowdStrike launched Falcon Adversary OverWatch Next-Gen SIEM in April 2025. This is a managed threat hunting solution from CrowdStrike that extends the company's threat hunting capabilities to third-party data sources, enabling real-time, expert-led threat detection and analysis. The Next-Gen SIEM is gaining robust traction, as testified by its 100% year-over-year ARR growth in the first quarter of fiscal 2026. Financially, the Falcon Next-Gen SIEM could help CrowdStrike sustain its strong growth. The solution is gaining robust traction, as testified by its 100% year-over-year annual recurring revenue (ARR) growth in the first quarter of fiscal 2026. This was way higher than the company's overall first-quarter ARR growth of 22%. How Competitors Fare Against CRWD Palo Alto Networks PANW launched Cortex XSIAM, an upgrade over its traditional SIEM, with significant enhancements like AI-driven analytics, automation, enhanced threat detection and response, MITRE ATT&CK Coverage Dashboards and streamlined alert prioritization. PANW is also experiencing solid traction in its Cortex XSIAM, which has witnessed ARR growth of 200% year over year in the third quarter of fiscal 2025. International Business Machines IBM has also enhanced its SIEM capabilities with the launch of QRadar SIEM Suite, which is cloud native and has added features of XDR, SOAR, and threat detection. The solution seamlessly integrates with IBM Security services, reducing barriers to adoption. As the legacy SIEM market is getting backdated and under-equipped to handle advanced cyber threats, multiple companies are venturing into this space. The total addressable market for XSIAM or Next-Gen SIEM is large enough to accommodate the growth of multiple players. This is the reason why CrowdStrike Next-Gen SIEM might prove to be a growth engine for the company. CrowdStrike's Price Performance, Valuation and Estimates Shares of CrowdStrike have gained 39.4% year to date compared with the Zacks Security industry's growth of 21%. From a valuation standpoint, CRWD trades at a forward price-to-sales ratio of 23.18X, higher than the industry's average of 14.63X. The Zacks Consensus Estimate for CRWD's fiscal 2026 earnings implies a decline of 11%, while the 2027 earnings estimates imply growth of 34.7%. The estimates for fiscal 2026 and 2027 earnings have been revised upward in the past 30 days. CRWD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Palo Alto Networks, Inc. (PANW): Free Stock Analysis Report CrowdStrike (CRWD): Free Stock Analysis Report
