If oil from an Enbridge Inc. pipeline reaches Lake Michigan, causing a “tragedy of historic proportions“, this heartland disaster might finally get some attention — which is bad news for the Canadian company.
ENB shares are down 4.5% since the spill on Monday night.
Enbridge could suffer more as American regulators track down a history of pipeline problems, including leaks, an explosion and dozens of regulatory violations, according to the AP. Regulators told Enbridge in January it was improperly monitoring corrosion on the pipe that sprung a leak.
Meanwhile Enbridge has a response website reminiscent of BP’s. Here’s a picture of the command centre: