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Enbridge Inc
Symbol ENB
Shares Issued 1,634,275,530
Close 2017-03-17 C$ 54.96
Market Cap C$ 89,819,783,129
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Globe says Alberta betting on Enbridge, Kinder pipes

2017-03-17 09:30 ET - In the News

The Globe and Mail reports in its Friday edition that the Alberta government expects to more than double its debt over the next three years and run deficits for six years, betting on rising oil prices and unbuilt pipelines to rescue the province's finances. The Globe's Carrie Tait writes that the government's budget for the year ahead shows little in the way of diversifying the province's revenue sources and shuns big spending cuts. Alberta plans to run a $10.34-billion deficit in the upcoming fiscal year and expects to balance the budget by 2023-24. The province says stronger energy prices, particularly for bitumen derived from the oil sands, will be key to recovery. For that to happen, Alberta is banking on two pipeline projects -- Kinder Morgan's controversial Trans Mountain expansion project to the West Coast and Enbridge's Line 3 replacement to Wisconsin -- to be operating by 2021 and 2020. That financial road map, The Globe says, is risky because pipelines are increasingly difficult to build because of opposition ranging from landowners to indigenous groups, to environmentalists and governments in other jurisdictions. The Globe reports that the NDP and the province's opposition parties favour pipelines.

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