RE:Should be green light on Line 3 !! $$$$$$$srtman03 wrote: State approves Line 3 EIS, further advancing $2 billion Enbridge project 1 hr ago Facebook Twitter Email Facebook Twitter Email Print Save The Minnesota Public Utilities Commission (PUC) ruled Thursday the Final Environmental Impact Statement that was developed for the Enbridge Line 3 Replacement Project is adequate. That decision follows a January PUC finding that the Line 3 Final EIS was inadequate for three items. At the time, Enbridge pledge to refine the information to address concerns. In a prepared statement, the partnership said this has been the most extensive EIS related to a pipeline project in the history of Minnesota. State agency staff spent 16 months drafting the 2,000 pages of analysis. It addresses the potentially significant issues and alternatives raised in scoping and incorporates input gathered in 49 public meetings and multiple comment periods. Enbridge said the EIS confirms that the replacement of Line 3 as proposed by Enbridge is a superior outcome to the continued operation of the existing Line 3 and to any alternative means of transporting crude oil by truck or rail. We will continue to work cooperatively with regulatory and permitting authorities, government agencies, elected officials, Tribal leadership and the public as we proceed with the regulatory process in Minnesota for this important safety driven maintenance project, Enbridge said. The Jobs for Minnesotans group agreed. The MPUCs decision to deem the Line 3 Replacement Projects environmental review adequate is a tremendous achievement for this crucial infrastructure project. The review and analysis were accomplished in a thoughtful and deliberate process involving a wide range of stakeholders. Jobs for Minnesotans is thankful to the state and public for their roles in shaping such a comprehensive and thorough document, the group said in a news release. The partnership said its preferred route: Scores much better than the two options considered to replace Line 3 within the existing right of way. Has a score similar to the most southern route alternative, although that route has the potential to significantly impact drinking water areas. Scores well versus the preferred route but requires a new right of way to develop through the Chippewa National Forest when the preferred route largely uses existing utility corridors. It also requires the line to be replaced on the Fond du Lac reservation when the tribe has made it clear they do not want the pipeline on their reservation. This moment is the culmination of years of work and paves the way for more than $2 billion in total economic impact in Minnesota. It also reinforces the importance of investing in integrity-driven projects that provide long-term returns for our state, said Jobs for Minnesotans. Above and beyond creating a pipeline that will serve our safe energy transportation needs well into the future, Minnesota stands to gain an additional $19.5 million per year in property taxes from Enbridge. We anxiously await the MPUCs summer 2018 decision on the certificate of need and route permit and believe there is strong justification for a similarly positive outcome for this much-needed project.
This is excellent news! I most definitely will be adding more at these levels. Enbridge is a power house and is a screaming buy at this level given a return of 6.5% or $0.671 per share Divy :) Happy trading Boyzzzz :)