19:43:23 EDT Tue 07 May 2024
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Enbridge Inc
Symbol ENB
Shares Issued 2,023,158,395
Close 2023-06-16 C$ 49.47
Market Cap C$ 100,085,645,801
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Globe/AP say Enbridge ordered to close part of pipeline

2023-06-19 07:54 ET - In the News

The Globe and Mail reports in its Monday edition that a federal judge has given Enbridge three years to shut down parts of an oil pipeline that crosses reservation land and ordered it to pay a native American tribe more than $5-million (U.S.) for trespassing. An Associated Press dispatch to The Globe reports that Friday's order from U.S. District Judge William Conley came after members of the Bad River Band of Lake Superior Chippewa told him during a hearing in Madison, Wis., that the Enbridge Line 5 pipeline is at immediate risk of being exposed by erosion and rupturing on their land. The tribe argued that an emergency exists because large sections of nearby riverbank have washed away this year, leaving less than 4.6 metres of land between Line 5 and the Bad River. Experts and environmental advocates have warned in court that exposed pipelines would be weakened and could rupture at any time, causing massive oil spills. The judge's order said a rupture on tribal land "would unquestionably be a public nuisance" but denied that the threat is imminent. Justice Conley wrote, "Nevertheless, given the environmental risks, the court will order Enbridge to adopt a more conservative shutdown and purge plan."

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