.png)
Michigan’s governor ordered Enbridge to shut down the 540,000-barrels-per-day Line 5 pipeline by May, which would affect gasoline prices and jet fuel availability in Ontario. CALGARY – Canada’s largest oil companies plan to use the St. Lawrence Seaway to ship crude oil into Ontario as a contingency plan in case Michigan Governor Gretchen Whitmer is successful in shutting down the Line 5 pipeline that supplies the province’s fuel. In November, Whitmer ordered Calgary-based pipeline giant Enbridge Inc. to shut down the 540,000-barrels-per-day Line 5 pipeline by May, which would affect gasoline prices and jet fuel availability in Canada’s most populous province by cutting off oil to refineries in Sarnia, Ont. Enbridge has said it would defy the order, which it is fighting in U.S. federal court, but oil companies with refineries in Ontario and Quebec have been scrambling to make contingency plans. Line 5 is the main conduit to move oil and products like propane from Alberta to refineries in Ontario, Ohio, Michigan and Pennsylvania. On Thursday, Suncor Energy Inc.’s CEO Mark Little revealed that the company has purchased the stake it didn’t previously own in the Portland-Montreal pipeline and plans to import oil from Maine to Quebec and […]
CamTrader offers a preview only. View original article. financialpost.com
