According to the Canadian Press, Enbridge Inc. (TSX:T.ENB, Stock Forum) is confident it can meet B.C.’s demands.
Last month the B.C. government said the company must include world-leading plans to prevent and respond to a marine or land oil spill as well ensure aboriginal and treaty rights are addressed.
As for the world-leading plans, scrutiny is already facing the Calgary-based company, after a pipeline leak on July 27 spilled 1,200 barrels of oil into rural Wisconsin.
However, even that issue seems minute when compared to the bands of First Nations already blocking the pipeline from their territories, known as the Yinka Dene alliance.
Among the Alliance is the Nak’azdli First Nation, located in Fort St. James, B.C., whose territory would be crossed by the Enbridge pipeline on its way from Edmonton, Alberta to Kitimat, British Columbia.
In an interview with Stockhouse, the Chief of the Nak-azdli First Nation, Fred Sam said “I don’t think there’s any chance of approval from First Nations, not from our First Nation.”
“We’re very scared for the environment, especially the fisheries because it’s going to be crossing a couple of the rivers in our territory,” Sam said.
A large Salmon run would also be in the vicinity the current outlined route.
Sam said that he believed First Nations concerns had been ignored in the past and that “we really need to talk to the province” about the pipeline.
Sam said that the band was “not anti-industry,” but that the Enbridge pipeline would be too risky, “I think eventually there will be a breakage, no matter what they say.”
On Thursday, Enbridge was trading at $40.03 a share. The company has a market cap of $31.9 billion, based on 796.9 million shares outstanding. The 52-week high and low was $42.23 and $28.27 respectively.