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Enbridge Inc
Symbol ENB
Shares Issued 846,371,626
Close 2014-09-12 C$ 55.12
Market Cap C$ 46,652,004,025
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Globe says Enbridge plan has Greens in a tizzy

2014-09-15 05:42 ET - In the News

The Globe and Mail reports in its Saturday edition that plans by Enbridge to increase the flow of Alberta oil sands crude into the United States, while avoiding the presidential permitting process, have upset environmentalists. The Globe's Paul Koring writes that opponents are threatening legal action and demanding the U.S. State Department reverse the nod given Enbridge. Enbridge, however, insists its plan is only a short-term fix while a full permitting application is in motion. Enbridge plans to use a smaller, older pipeline running parallel to its existing Alberta Clipper line to move the additional flows across the 49th parallel. By using existing lines, Enbridge does not need a new permit and avoids an extensive environmental review by the U.S. State Department. Enbridge intends to build a short link three kilometres north of the Canada-U.S. border between the Alberta Clipper pipeline and Line 3, originally built in 1968. Once across the border, the oil sands crude would be funnelled back into the Alberta Clipper line which is being upgraded to cope with higher pressure pumps. The State Department confirmed the use of an existing parallel pipeline to cross the border would avoid a full review.

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