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Bloomberg: Canada approves Northern Gateway pipeline

  • The Canadian government approves Enbridge’s (ENB) Northern Gateway pipeline, Bloomberg reports, which would eliminate the final major regulatory obstacle for the project that would move Alberta oil to the Pacific coast for shipment to Asia.
  • Approval of the C$6.5B project is said to be subject to ENB satisfying the 209 conditions placed on the proposal by a regulatory review panel in December.
  • ENB +2.3% AH.
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Comments (1)
  • dgwine
    , contributor
    Comments (7) | Send Message
     
    This is also subject to the approval of the Provincial Government, who have set five conditions, and the approval of many First Nations Groups along the path, who have said NO and who have never ceded their territories. Ten years at least before this gets out of the courtrooms.....
    SELL ENB if you have it and look at this again in five or six years.
    18 Jun 2014, 04:30 PM Reply Like
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