Westport Innovations Inc. (USA) (WPRT), SolarCity Corp (SCTY): Ways You Can Profit From Energy Independence

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Almost all non-North American oil is consumed in the coastal regions, where foreign sources are more readily available. So both TransCanada Corporation (USA) (NYSE:TRP) and Enbridge Inc (USA) (NYSE:ENB) want to change that. The proposed pipelines from both companies combined couldoffset our foreign oil dependence by 20%, which also presents an immense opportunity for Transcanada and Enbridge to generate revenue as well. It currently costs $7 to $11 to move a barrel of oil from Alberta to Houston. So each of these pipeline projects would add about $2 to $3 billion in revenue annually to both companies, respectively.

Transcanda is even taking it one step further. The company announced on Aug. 1 that it has decided to move forward with a 1.1 million-barrel-per-day pipeline to the East Coast. Not only will this satisfy Canada’s crude import needs, but it could also take a big chunk out of other imported crudes to the United States. Even though the distance is longer, if we were to assume the same price for East Coast shipments as for Houston shipments, this would represent another $2.8 to $4.5 billion boost in revenue. If you are scoring from home, that means TransCanada Corporation (USA) (NYSE:TRP) could almost double its 2012 revenue with these two pipelines coming online alone.

The article 3 Ways You Can Profit From Energy Independence originally appeared on Fool.com.

Fool contributor Tyler Crowe owns shares of Westport Innovations and SolarCity. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool. The Motley Fool recommends and owns shares of Westport Innovations.

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