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Bullboard - Stock Discussion Forum Enbridge Inc T.ENB

Alternate Symbol(s):  ENB | T.ENB.PF.A | T.ENB.PF.C | T.ENB.PF.E | ENBOF | ENBFF | T.ENB.PF.G | EBBNF | T.ENB.PF.U | T.ENB.PF.V | EBGEF | T.ENB.PR.A | ENBGF | T.ENB.PR.B | EBRGF | T.ENB.PR.D | EBRZF | T.ENB.PR.F | T.ENB.PR.H | ENBHF | T.ENB.PR.J | ENBRF | T.ENB.PR.N | ENNPF | ENBMF | T.ENB.PR.P | T.ENB.PR.T | T.ENB.PR.V | EBBGF | ENBNF | T.ENB.PR.Y | T.ENB.PF.K | T.ENB.PR.G | T.ENB.PR.I | T.ENB.PR.Z

Enbridge Inc. is an energy transportation and distribution company. The Company operates through five business segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. Liquids Pipelines consists of pipelines and terminals in Canada and the United States that transport and export various grades of crude oil and... see more

TSX:ENB - Post Discussion

Enbridge Inc > White House: U.S. is not considering shutting down Line 5
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Post by ckwong on Nov 09, 2021 2:51pm

White House: U.S. is not considering shutting down Line 5

White House: U.S. is not considering shutting down Enbridge's Line 5 pipeline

White House: U.S. is not considering shutting down Enbridge's Line 5 pipeline



WASHINGTON, Nov 9 (Reuters) - The White House said on Tuesday it is not contemplating shutting down Enbridge Inc's (ENB.TO) Line 5 pipeline after Canada last month invoked a 1977 treaty with the United States to trigger bilateral negotiations over it.

Line 5 is at the center of a long-running environmental dispute between Calgary-based Enbridge and the state of Michigan that has embroiled the Canadian and U.S. governments.

"We expect that both the U.S. and Canada will engage constructively in those negotiations," White House spokesperson Karine Jean-Pierre told reporters.

She said those discussions should not be viewed as an indicator that the U.S. government was considering shutting down the pipeline.

"That is something that we're not going to do," she said.

The Line 5 pipeline ships 540,000 barrels per day of crude and refined products between Superior, Wisconsin, and Sarnia, Ontario, via Michigan, and is a key link in Enbridge's Mainline network, which transports the bulk of Canadian crude exports to the United States.

Michigan Governor Gretchen Whitmer ordered Enbridge to stop operating the pipeline by May because of concerns a section running underwater in the Straits of Mackinac could leak into the Great Lakes. The company ignored that order and the two sides are embroiled in a legal battle over Line 5's fate.

Last month the Canadian government, which backs Enbridge, escalated the dispute by invoking the decades-old pipeline treaty with the United States to trigger negotiations.

Reporting by Trevor Hunnicutt, Jeff Mason and Nia Williams Editing by Chris Reese and Mark Potter

 
Comment by FiddyFiddyOddz on Nov 09, 2021 4:03pm
Odd that with such positive news, the share price dropped at 2:15 pm from 53 a share, to close in the red.  Call me daft, but shouldn't positive news such as this resulted in a spike UPWARDS towards the end of the trading day ?
Comment by silkos on Nov 09, 2021 4:09pm
You gotta chill Fiddy san, there is no stock that goes up all the time. Plus there are no great news, just in line with expectations.
Comment by FiddyFiddyOddz on Nov 09, 2021 4:39pm
SILKOS - Of course there's no stock that goes up all the time, but at least react in a sensible way to the news that's out there.  When there's rumbles of them shutting Line 5 down, it was expected ENB would drop, that makes sense.  Conversely when that SAME news in debunked, it makes sense the share price should move back up , that's all I'm saying....  Silkos ...more  
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