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The Esso/ Imperial Oil Nanticoke refinery July 2015. (Marcus Oleniuk/ Toronto Star) The Lead According to the Globe and Mail, the petroleum company Imperial Oil Ltd., headquartered in Calgary, is preparing contingency plans to transport its oil from Western Canada to refineries in Ontario if the Michigan government succeeds at shuttering Enbridge Line 5’s pipeline. Enbridge’s Line 5 is part of a network of pipelines that sends oil and other fuels from Western Canada to refineries in the U.S. and Ontario. Line 5 moves nearly 23 million gallons (87 million litres) a day between Wisconsin and Ontario, crossing parts of northern Michigan, as well. Imperial Oil’s CEO Brad Corson believes there is a “very low probability” that Line 5 will be shut down while Michigan’s environment department approved some permits last week. In any case, he said Imperial Oil is developing plans to transport crude to the refineries “through the seaway, as well as other pipelines and rail alternatives that are available.” The company has reported a loss of $1.15 billion for its fourth quarter as it took a $1.17 billion non-cash charge on a number of natural gas assets it believes it will never be developed. The Canadian […]
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