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Enbridge Inc
Symbol ENB
Shares Issued 846,371,626
Close 2014-09-09 C$ 56.08
Market Cap C$ 47,464,520,786
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Van Sun says proposed NDP bill bad news for Enbridge

2014-09-09 07:14 ET - In the News

The Vancouver Sun reports in its Tuesday edition the federal New Democratics plan to table a bill this fall that would pressure oil and gas companies to find ways to add value to crude oil before exporting it overseas. The Sun's Peter O'Neil writes the three-pronged bill will include a provision banning large crude oil tankers on British Columbia's north coast, and would require the National Energy Board to give greater weight to the public's views before approving major projects. If passed, the new legislation would be bad news for the proponents of two projects to export raw diluted bitumen crude to Asian refineries via B.C. ports -- Kinder Morgan and Enbridge. However, the NDP's initiative would provide at the very least a morale and public relations boost for the proponents of two other B.C. projects. Pacific Future Energy Corp. wants to build a $10-billion oil sands refinery near Prince Rupert. B.C. newspaper owner David Black, meanwhile, is promoting a $16-billion refinery in Kitimat. Neither project would be affected by a ban that specifically targets crude oil supertankers, but both those projects would still have to meet the need to obtain public buy-in as well as support from first nations.

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