The Financial Post reports in its Friday edition imagine activists dominating your annual shareholder meeting, sullying your brand over the Internet, discrediting you with politicians and agitating communities against you.
The Post's Claudia Cattaneo writes this is the environment in which TransCanada and Enbridge find themselves. They are on the front lines of the war between oil producers and opponents of oil extraction.
With pipeline rage that started with TransCanada's Keystone XL and Enbridge's Northern Gateway projects spreading to other proposals, the two companies are transforming the way they expand their business. It involves a change in attitude, communicating with more people, paying more attention to what can go wrong, and facing higher costs amid more competition from rail companies that are expanding without restrictions.
"There is a new reality in terms of permitting and constructing pipelines that wasn't there before," said TransCanada chief executive officer Russ Girling, adding that the new model will be more time consuming, require more work, and in the end, cost more.
Gone are the days when pipeline companies deliberately operated in the shadows and avoided publicity.
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