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Enbridge Inc
Symbol ENB
Shares Issued 929,227,712
Close 2016-07-05 C$ 54.84
Market Cap C$ 50,958,847,726
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Globe says bell tolls for Enbridge's Northern Gateway

2016-07-06 06:17 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Globe and Mail reports in its Wednesday, July 6, edition that Prime Minister Justin Trudeau signalled the death knell for the Northern Gateway pipeline project Tuesday, reiterating his opposition to it just days after a court decision invalidated a previous approval. The Globe's Shawn McCarthy writes that Mr. Trudeau's government now has the opportunity to simply say "no" as a result of the appeal court ruling. Mr. Trudeau said Tuesday, "On the Northern Gateway pipeline, I've said many times, the Great Bear Rainforest is no place for a crude oil pipeline." His statement appears to preclude any effort to reroute the pipeline to a terminus at Prince Rupert from Kitimat, B.C., since the Great Bear Rainforest extends as far north as Prince Rupert and well south of Kitimat. The ruling makes it clear that governments must take seriously their duty to consult first nations, and not merely engage in pro forma discussions in which the outcome is already decided. Ottawa will need to consider its implications as it proceeds with two other pipeline applications, Kinder Morgan's proposed Trans Mountain expansion and TransCanada's Energy East project that would move crude from Alberta to Saint John, N.B.

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