15:37:58 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 939,017,499
Close 2017-01-16 C$ 57.27
Market Cap C$ 53,777,532,168
Recent Sedar Documents

Globe pans Enbridge rival Kinder Morgan's B.C. pipe fee

2017-01-17 06:25 ET - In the News

The Globe and Mail reports in its Tuesday, Jan. 17, edition that Kinder Morgan's agreement to pay British Columbia up to $1-billion in exchange for being permitted to expand the capacity of the Trans Mountain pipeline is a political victory for Premier Christy Clark. A Globe editorial says this unprecedented payment is extremely worrisome. This revenue-sharing deal is not linked to anything other than Ms. Clark's desire to demonstrate to voters that she has wrung a financial concession out of Kinder Morgan. This is not how business is supposed to work. The Kinder Morgan payment is essentially a tax without the legislation enabling it, which is dead wrong. It is also wrong that B.C. is effectively taxing Kinder for the right to transport Alberta oil over its territory. This is a terrible precedent. This kind of strong-arming of companies plays well with voters --president-elect Donald Trump regularly threatens corporations with financial penalties for political gain. In Canada, however, B.C.'s pipeline fee amounts to a tax on goods moving to market through its territory. This is undesirable, and probably unconstitutional. The Globe says it might be good for Ms. Clark, but it is bad for Canada.

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