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Energy Transfer can move ahead with North Dakota oil pipeline, judge rules

Sep. 09, 2016 3:18 PM ETEnergy Transfer LP Common Units (ET) StockSXL, PSX, ETBy: Carl Surran, SA News Editor17 Comments
  • A federal judge rules that construction can proceed on the Dakota Access Pipeline, dealing a blow to critics who said the pipeline would damage sites of cultural significance for Native Americans and create an environmental hazard where it crosses the Missouri River.
  • The project appears to comply with the National Historic Preservation Act, and the Standing Rock Sioux tribe "has not shown it will suffer injury that would be prevented by any injunction the Court could issue," the judge says.
  • Project developer Energy Transfer Products (ETP -1.8%) says it has taken appropriate safety measures on the 1,172-mile project that would run through four states from North Dakota to Patoka, Ill., where it would join another ETP line that carries oil to refineries in Texas; other relevant tickers include SXL and PSX.

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