Published reports say British Columbia Premier Christy Clark will not sign on to a national energy strategy if her conditions are not met for the proposed Northern Gateway pipeline.
The premier has listed five conditions that must be met in order for B.C. to allow the pipeline to go through its province.
Enbridge Inc’s (TSX:T.ENB, Stock Forum) proposed Northern Gateway pipeline, which has not yet been approved, would see a pipeline carry both refined crude and diluted oil sands bitumen from Edmonton, Alberta to Kitimat, northern coast of B.C
The most controversial is that the province receive its “fair share” of fiscal and economic benefits.
Clark has argued that B.C. is taking on most of the environmental risk of carrying the heavy oil through her province but reaping little economic benefit.
She is also demanding that Alberta and the Harper government sit down to discuss the issue – and if they don’t then her province will not be at the table to help frame a national energy strategy that the other premiers are keen for.
On Friday, Enbridge was trading at $42.05 a share. The company has a market cop of $33.4 billion, based on 794.9 million shares outstanding. The 52-week high and low was $42.12 and $28.27 respectively.