Enbridge Inc. (TSX:T.ENB, Stock Forum) (NYSE:ENB, Stock Forum) and Enbridge Energy Partners LP (NYSE:EEP, Stock Forum) said they appreciate the hard work and due diligence of the National Transportation Safety Board (NTSB) throughout the process of the Line 6B crude oil spill investigation.
According to the press release, Enbridge and EEP have worked closely and cooperatively with the NTSB throughout its investigation, and are now reviewing the summary report.
"We believe that the experienced personnel involved in the decisions made at the time of the release were trying to do the right thing. As with most such incidents, a series of unfortunate events and circumstances resulted in an outcome no one wanted," said Mr. Daniel.
However, according to the Associated Press, A U.S. government agency has approved investigators' findings that Canadian pipeline builder Enbridge Inc. knew about cracks that led to a 2010 leak of more than three million litres of oil into a Michigan river.
According to published reports, the release led to the most expensive onshore cleanup in U.S. history, which is nearly complete, has already cost about $800 million US.
The pipeline started leaking on July 25, 2010, into Talmadge Creek near Marshall, about 96 kilometres east of Grand Rapids.
The results of the review could have an impact on Enbridge’s proposal to build a $5.5 billion, 1,177-kilometre pipeline from the oil sands to the West Coast.
Enbridge Inc. is a North American leader in delivering energy and one of the Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system.
On Tuesday, Enbridge was trading for $40.24 a share. The company has a market cap of $ 32 billion, based on $795 million shares outstanding. The 52-week high and low was $41.59 and $28.27 respectively.