CBC News reported today that the Canadian federal government has approved the construction of Enbridge’s (TSX:ENB) Northern Gateway Pipeline, which will run from Alberta to British Columbia’s Coast. The pipeline is subject to 209 conditions set out by Canada’s National Energy Board, as well as further talks with aboriginal groups. Federal opposition leaders noted that construction would not begin before Canada’s next election in 2015, and have vowed to reverse the pipeline decision if given the opportunity, according to the CBC.
Also, as quoted in the publication:
B.C. Premier Christy Clark has the power to grant or deny dozens of other permits for its construction. Her government has set out five conditions she expects to be met before allowing the Northern Gateway pipeline to be built across British Columbia.
Get Our Expert Guide to Oil Investing FREE!Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World