According to published reports, B.C.’s NDP leader, Adrian Dix has vowed to back out of Ottawa’s review of the proposed Enbridge pipeline.
This is bad news for Prime Minister Stephan Harper, who has been pushing for the approval of Enbridge Inc.’s (TSX: T.ENB, Stock Forum) Northern Gateway pipeline.
If approved the Enbridge pipeline would run from Edmonton, Alberta to Kitimat B.C. The controversial project would carry 525,000 barrels of petroleum a day.
B.C.’s NDP party has been gaining momentum during Liberal incumbent Christy Clark’s reign as Premier.
According Mustel Group, a company focused on market research, a survey of 518 B.C. voters between March 5 and 19, shows the NDP holds an eight point lead over the Liberals, 42% and 34% respectively.
The next provincial election is slated for May, 2013.
On Wednesday, Enbridge was trading at $39.54 a share. The company has a market cap of $31.5 billion, based on 797 million shares outstanding. The 52-week high and low was $42.23 and $30.35 respectively.