STOCK TITAN

Parliamentarians affirm importance of Line 5 pipeline for Canada and U.S.; call for urgent executive action to keep Line 5 operating

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

A report by a Canadian House of Commons Special Committee emphasizes the crucial role of the Line 5 pipeline for both Canada and the U.S. The committee urges immediate bi-national action to resolve disputes related to the pipeline's Straits of Mackinac crossing. The report highlights that shutting down Line 5 could lead to safety concerns, energy shortages, and job losses in both nations. Since early 2021, significant support for uninterrupted operations has emerged from governments, labor groups, and citizens, underpinning its economic significance. Enbridge confirms its commitment to resolving the issue through executive action.

Positive
  • The report highlights Line 5's vital role in ensuring secure energy supplies for both Canada and the U.S.
  • Broad support from various stakeholders, including labor groups and local governments, underscores the pipeline's economic importance.
  • Enbridge is committed to finding a resolution through executive action and negotiations.
Negative
  • Potential shutdown of Line 5 could result in significant safety concerns and energy product shortages.
  • Job losses could occur for workers in both Canada and the U.S. if the pipeline's operation is disrupted.

CALGARY, AB, April 15, 2021 /PRNewswire/ - A multi-party Canadian House of Commons Special Committee report released today affirms the economic importance of the Line 5 pipeline to both Canada and the U.S. and recommends urgent, bi-national executive action to resolve the dispute between the State of Michigan and Enbridge over the Straits of Mackinac crossing.

"Line 5 is a significant aspect of Canada's economic relationship with the United States and contributes to secure energy supplies in both countries," the report states. "Its shutdown could have many implications, including reduced safety, shortages of various energy products on both sides of the Canada–U.S. border, transportation bottlenecks for Alberta's crude oil, and job losses for Canadian and American workers. In this context, the Special Committee believes that the Government of Canada's efforts designed to ensure that Line 5 remains in operation are vital."

Since the beginning of 2021, governments, local communities, labor groups, chambers of commerce, business councils, industry associations and thousands of citizens in Canada and the U.S. have been vocal in stressing the importance of keeping Line 5 operating without interruption until Enbridge can complete its Great Lakes Tunnel Project.

The Special Committee's report on Line 5 follows parliamentary hearings in March that featured testimony from labor and business groups like Canada's Building Trades Unions, the Laborers' International Union of North America, and the Canadian Chamber of Commerce. The Energy Ministers from Ontario, Alberta and Saskatchewan also testified to the importance of Line 5. Many organizations provided written input to the committee.

"Enbridge is grateful for the tremendous outpouring of support for the uninterrupted operation of Line 5, including Parliamentarians across all party lines who've come together on this important cross-border issue," said Vern Yu, Executive Vice President and President, Liquids Pipelines. "We concur fully with the findings of the report, most importantly on the need to resolve the current dispute through executive action and state-to-state negotiation. As the report makes abundantly clear, it's in the best interests of both Canada and the United States to agree on a plan to keep the Line open and get the new proposed tunnel built in a timely manner.

"The stakes could not be higher," Yu said. "Line 5 is not just a pipeline—it's an economic lifeline in Canada and the United States."

About Enbridge Inc.
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,750 MW of net renewable power in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Media
Toll Free: (888) 992-0997
Email: media@enbridge.com

Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/parliamentarians-affirm-importance-of-line-5-pipeline-for-canada-and-us-call-for-urgent-executive-action-to-keep-line-5-operating-301270099.html

SOURCE Enbridge Inc.

FAQ

What did the Canadian House of Commons Special Committee report state about Line 5?

The report confirmed the economic importance of Line 5 and recommended urgent action to resolve disputes affecting its operation.

How could shutting down Line 5 affect the economy?

A shutdown could lead to safety issues, energy shortages, and job losses in both Canada and the U.S.

What actions are being called for regarding Line 5?

The report calls for immediate bi-national executive action to address the dispute between Michigan and Enbridge.

Who supports keeping Line 5 operational?

Support has come from governments, labor groups, and local communities in both Canada and the U.S.

What is Enbridge's position on the Line 5 issue?

Enbridge expresses gratitude for the support and emphasizes the need to resolve disputes to maintain operations.

Enbridge, Inc

NYSE:ENB

ENB Rankings

ENB Latest News

ENB Stock Data

91.84B
2.18B
0.1%
54.74%
1.13%
Oil & Gas Midstream
Pipe Lines (no Natural Gas)
Link
United States of America
CALGARY