Quantcast
 
New ETF Book by Larry Connors - Click here to read more


 

Enbridge to pay $1.1M lawsuit

Sat. January 03, 2009; Posted: 06:09 AM
Stocks RSS
Jan 03, 2009 (Duluth News Tribune - McClatchy-Tribune Information Services via COMTEX) -- EEP | Quote | Chart | News | PowerRating -- Enbridge Energy Partners L.P. will pay $1.1 million to settle a lawsuit filed against it by the Wisconsin attorney general's office.

At issue were environmental violations arising from the company's construction of a pipeline stretching from Superior to Whitewater in southeastern Wisconsin in 2007 and 2008. The lawsuit alleged that Enbridge violated numerous permits during the pipeline project, resulting in impacts to wetlands and navigable waterways.

"This was a serious case, which is why we filed the lawsuit, but we believe this settlement resolves this problem," said Bill Cosh, a spokesman for the Wisconsin Department of Justice.

"The important thing is that the settlement puts this issue to bed," said Denise Hamsher, a spokeswoman for Enbridge. She said her company has taken steps to address all the issues and concerns raised in the lawsuit.

In a statement issued Friday, Attorney General J.B. Van Hollen expressed his hopes that the sizeable settlement delivers a strong warning.

"While some of the individual violations were likely of limited direct impact, the incidents of violation were numerous and widespread, and resulted in impacts to streams and wetlands throughout the various watersheds," he said.

Hamsher pointed out that laying the pipeline was a massive undertaking that involved more than 2,000 workers and more than a year's worth of time. She noted that the project also was tackled at a time of "some of the worst flooding in Wisconsin's history."

"That's no excuse," Hamsher said. "We expect perfection."

Enbridge has learned from the experience, bolstering its worker training programs, adopting new best-practice techniques and hiring environmental monitors to watch over pipeline installation work, Hamsher said. She noted that subsequent sections of pipeline installed in Minnesota, Wisconsin and Illinois have all gone in "without a hiccup."

Enbridge faces another potentially large financial penalty in coming months. The U.S. Department of Transportation has levied $2.4 million in fines in connection with a pipeline fire that claimed the lives of two workers from Superior. They were killed while helping to repair a section of pipeline near Clearbrook, Minn., on Nov. 28, 2007.

While Enbridge does not dispute the findings, it has requested a hearing to discuss the magnitude of the proposed fine. That hearing has not yet been scheduled.

To see more of the Duluth News Tribune, or to subscribe to the newspaper, go to http://www.DuluthSuperior.com. Copyright (c) 2009, Duluth News Tribune, Minn. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on Enbridge Energy Partners Lp (EEP) click here. Enbridge Energy Partners Lp (EEP) has Short Term PowerRatings of 6. Details on Enbridge Energy Partners Lp (EEP) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [EEP]
  UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
* Attendance is strictly limited and are filled on a first-come, first-served basis.
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.