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Enbridge Inc
Symbol ENB
Shares Issued 848,774,828
Close 2014-12-04 C$ 60.04
Market Cap C$ 50,960,440,673
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Globe says outlook not bright for Enbridge, rival pipes

2014-12-05 08:06 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Globe and Mail reports in its Friday, Dec. 5, edition that the great Canadian issue remains new oil pipelines from Alberta. The Globe's Gordon Gibson writes that for supporters, these long-term projects will generate billions of dollars every year, including tax revenue to pay for health and education. For opponents, the pipelines will destroy the planet through carbon release, or at a minimum foul our streams and oceans. This is surely of national consequence. So it is passing strange that the debate is being led by premiers and even mayors. After all, the Constitution gives Ottawa exclusive jurisdiction in this area, including Enbridge's proposed Northern Gateway, Kinder Morgan's Trans Mountain and TransCanada's Energy East pipelines. Canadian oil has no Canadian pipes to get it to the ocean, and so it is sold south at a significant discount. Local governments bend to local protests, but this is a national issue. Mr. Gibson says Ottawa is scared and silent, with an election on its way. Mr. Harper has not spent one ounce of political capital on this file. If things remain that way, Mr. Gibson's guess is that Gateway and Kinder are toast in our time, and Energy East is a gamble.

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