The Globe and Mail reports in its Thursday, Oct. 8, edition that Enbridge ($55.89) is planning to spend $38-billion through 2019 on new projects including liquids and natural gas lines, as well as power generation and gas processing. A Bloomberg dispatch to The Globe reports that chief executive officer Al Monaco says, "We have so many opportunities, but many come with a higher degree of risk." Enbridge's previous spending plan lasted from 2014 to 2018 and had $44-billion of projects. Mr. Monaco says Enbridge is focusing on expanding "low-cost, incremental" projects such as twinning existing pipelines to provide producers with new transportation capacity as they struggle with low crude prices. Mr. Monaco says Enbridge's $7.5-billion Line 3 replacement is the largest project. While oil and gas producers have been reeling from the collapse of energy prices, pipeline fees have provided a steadier source of income. Lines such as Enbridge's Flanagan South have expanded Canadian crude shipments to the Gulf Coast, and the operator also plans to expand in Colombia and Australia. Veritas Investment's Anthony Scilipoti was bearish on Enbridge in The Globe on June 22 when it was worth $57.31.