06:42:25 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 929,112,973
Close 2016-06-22 C$ 54.37
Market Cap C$ 50,515,872,342
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Van Sun says Enbridge still faces PM's disapproval

2016-06-22 07:10 ET - In the News

The Vancouver Sun reports in its Wednesday edition that Prime Minister Justin Trudeau will not say when his government will fulfill a campaign promise to "formalize" an oil tanker ban for the Northern B.C. coast. The Sun's Peter O'Neil quotes Mr. Trudeau as saying: "We're working every day on getting both the environment and the economy protected right across the country. We'll continue to work on that file." There has been considerable media speculation that there could be a loophole in the ban if Enbridge moves its proposed terminal for a $7.9-billion oil sands pipeline terminal from Kitimat to Prince Rupert near the Canada-Alaska border. Mr. Trudeau, however, said repeatedly that he still supports a ban that would effectively kill Enbridge's proposed 525,000-barrel-a-day oil sands pipeline. The expected imposition in early 2017 of the ban, through either legislation or a regulation, would provide time for the government to determine the geographic area covered by the ban, deal with possible diplomatic issues with the United States, and define both "oil" and "tanker." The PM may want to be in a position to say that Northern Gateway was granted a federal approval but failed to meet its conditions.

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