20:29:09 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 2,125,954,360
Close 2024-04-11 C$ 47.27
Market Cap C$ 100,493,862,597
Recent Sedar Documents

FP/wire say Enbridge hears call to reconsider Line 5

2024-04-12 09:16 ET - In the News

The Financial Post reports in its Friday, April 12, edition that the Biden administration has entered into a dispute between Enbridge and indigenous landowners over an oil pipeline in Wisconsin. A Bloomberg dispatch to the Post reports that in June, a U.S. District Court ordered Enbridge to relocate Line 5 away from the Bad River Reservation within three years or cease its operation and pay the band $5.15-million (U.S.) for trespassing. The U.S. argued that the court was correct in determining that Line 5 was trespassing, but it did not consider the impact on U.S. policy, diplomatic relationship and treaty obligations with Canada, as well as compensation for indigenous landowners. The Department of Justice has filed a brief with the U.S. Court of Appeals for the Seventh Circuit, suggesting that Enbridge's restitution be reconsidered, given that the company has earned over $1-billion in net profit from Line 5 in the ten years it used tribal land. Enbridge has been involved in multiple court battles over Line 5, which is a crucial conduit for delivering millions of gallons of oil from Western Canada to refineries in the U.S. Midwest, Ontario and Quebec. The battle has soured relations between the U.S. and Canada.

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