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Colonial Pipeline Attack Highlights Enbridge's Strength

Image source: Getty Images
Enbridge(TSX:ENB)(NYSE:ENB) is a stock that has been in the news a lot lately. Unfortunately, it hasn’t been all good news for investors of late.
An ongoing dispute with Michigan over the company’s Line 5 project has raised concerns among many investors. Indeed, this is a critical infrastructure project that investors have been banking on for some time.
Here’s why Enbridge remains one of my top picks in light of this ongoing dispute. Let’s dive into what’s going on.
Line 5 officially shut down
Michigan governor Gretchen Whitmer has been a stark opponent of Enbridge’s Line 5 expansion. The governor recently called for the closure of this pipeline and has passed legislation to this effect. ....

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Whitmer threatens profit seizure as Enbridge Line 5 closure deadline looms

Whitmer threatens profit seizure as Enbridge Line 5 closure deadline looms
Updated May 11, 2021;
Posted May 11, 2021
A Ballard Marine Construction boat tows an Enbridge underwater sonar vehicle to the site of Line 5 under the Straits of Mackinac on Thursday, June 9, 2016. (Garret Ellison | MLive.com)
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LANSING, MI Michigan Gov. Gretchen Whitmer says the state of Michigan will attempt to seize any profits that Enbridge makes from operating the controversial Line 5 oil pipeline under the Straits of Mackinac if the company doesn’t comply with her order to shut the line down this week.
In letter to Enbridge Vice President Vern Yu on Tuesday, May 11, Whitmer said the state will pursue trespass and unjust enrichment claims in court if Enbridge moves oil through the line in violation of her November shutdown order, which goes into effect at midnight on Wednesday. ....

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Ohio, Louisiana argue against Line 5 shutdown in federal court

Ohio, Louisiana argue against Line 5 shutdown in federal court
mlive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mlive.com Daily Mail and Mail on Sunday newspapers.

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Michigan introduces energy security plan in expectation of Line 5 closure

Michigan introduces energy security plan in expectation of Line 5 closure
clickondetroit.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from clickondetroit.com Daily Mail and Mail on Sunday newspapers.

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Joe Biden Keystone XL shutdown order emboldens pipeline opponents

DAKOTA ACCESS
Opponents of the Dakota Access pipeline, which carries oil from North Dakota to a shipping point in Illinois, want Biden‘s U.S. Army Corps of Engineers to shut it down.
A federal appeals court ruled last week that the project must undergo a more thorough environmental review, known as an environmental impact statement, but it declined to shut the line down while the review is completed.
Texas-based pipeline owner Energy Transfer maintains the line is safe. But pipeline opponents say the ruling means it is operating with an invalid permit.
The Army Corps faces a Feb. 10 hearing where it must tell a federal judge how it expects to proceed without a permit granting easement for the 1,172-mile (1,886 kilometer) pipeline to cross beneath Lake Oahe, along the Missouri River. The Standing Rock Sioux, who draw water from the river, have said they fear the line will someday fail and pollute the water and land. ....

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