Latest news with #Enbridge
Hamilton Spectator
3 hours ago
- Politics
- Hamilton Spectator
Coastal First Nations call on Carney to uphold oil tanker ban
Indigenous leaders on British Columbia's north coast are calling on the federal government to hold out against pressure from Alberta and industry to reverse the west coast oil export ban. On Tuesday, the Coastal First Nations, a group of nine First Nations along the north and central coast of BC and Haida Gwaii, wrote an open letter to Prime Minister Mark Carney. The group urged the government to uphold Bill C-48, known as the Oil Tanker Moratorium Act. Since 2019, this law has prohibited tankers carrying over 12,500 metric tons of crude oil and other oil products from stopping or transferring cargo at any port between the northern tip of Vancouver Island and the Alaska border, which includes Haida Gwaii, the Hecate Strait and Queen Charlotte Sound. The act formalizes protections that Indigenous communities and environmentalists have been seeking since the 1970s. It effectively bans crude oil supertankers from one of the world's most pristine cold-water marine ecosystems, home to whale habitats, wild salmon, seabirds and ancient rainforests. Exports through the Juan de Fuca Strait are allowed, meaning the ban has not interfered with the Trans Mountain pipeline expansion. The controversy comes as Carney said in a recent statement that a new bitumen pipeline to BC's north coast is 'highly, highly likely.' His remark aligns with Alberta Premier Danielle Smith and federal Conservative MPs push to lift the tanker ban. Smith has specifically called for faster federal approvals for pipeline projects and an exemption at the Port of Prince Rupert to allow oil exports to Asia. But Marilyn Slett, president of the Coastal First Nations and chief councillor of the Heiltsuk Tribal Council, said oil tankers are a 'non-starter' for her community. 'An oil tanker project is not something we can ever provide consent to,' she said. 'Our communities rely on healthy oceans and ecosystems for our livelihood and culture. Reversing or weakening this legislation would put everything our communities depend on at risk.' The tanker ban was instituted after more than a decade marked by energetic opposition to pipelines to the West Coast. The Northern Gateway pipeline, first proposed by Enbridge in 2002, was ultimately halted in 2016 after more than 130 First Nations publicly opposed the project and courts ruled that consultations had been inadequate. Slett called the decision a major win for Indigenous rights and protection of coastal areas, and said any new talks should not repeat old mistakes. Indigenous leaders have come out against crude oil tankers but have been more accepting of other types of ships, especially those carrying liquefied natural gas (LNG). By 2030, as many as 600 LNG vessels are expected to pass through their waters — activities accommodated through lengthy engagement and approval processes with communities, said Danielle Shaw, chief councillor of the Wuikinuxv Nation and a board member of the Central Coast Indigenous Resource Alliance. 'We're open to discussing projects that will be sustainable and responsible and can strengthen the economy of Canada and British Columbia,' Shaw said. 'But there's strong opposition to oil tankers on this coast because of the impacts it would have for our communities directly.' Slett noted that with 175 LNG tankers already passing through coastal channels this year and more expected, the impact on the ecosystem is significant. 'This is substantial, and those have cumulative effects on the ecosystem. They are in place and serving as projects for British Columbia and other communities. This [oil tankers] is something we cannot add … it's not something we would support.' The risks from oil spills are considered too great. 'When it comes to allowing oil tankers on our coast, it wouldn't be if something were to happen, it would be when something happens,' Shaw said. Slett criticized the lack of formal consultation regarding renewed pipeline proposals. Bill C-5 was rushed through Parliament in just two weeks, and a meeting between Carney and First Nations leaders from across Canada last week was allotted just a few hours. 'There's been a lot of talk about us without talking to us,' she said. She said she learned about energy proposals through the news rather than direct government engagement. The open letter invites Carney to visit the north coast to see why the tanker moratorium remains vital and to consider how a path forward without an oil pipeline can benefit the region. Slett said her communities prefer discussion and collaboration but remain firm in their opposition. 'Court challenges and direct action would always be a last resort,' she said. 'We've built relationships with provincial and federal partners that we want to maintain, but we won't support new pipelines. The tanker ban must stand.' Sonal Gupta / Local Journalism Initiative / Canada's National Observer Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
CTV News
5 hours ago
- General
- CTV News
Gas line breaks in Wheatley
A gas line has broken in Wheatley during demolition at 24 Erie Street North, according to the Municipality of Chatham-Kent. Fire crews are on scene and Enbridge is on its way to fix the break. Precautionary air monitoring will be taking place, conducted by Chatham-Kent Fire and Rescue, to make sure the public is safe. Erie Street North will stay closed until the gas line is fixed. This is unrelated to gas and water wells, the municipality said.
Yahoo
12 hours ago
- Business
- Yahoo
3 Ultrahigh-Yield Dividend Stocks You Can Buy Right Now With No Hesitation
Key Points Enbridge's cash flows are steady and predictable. Enterprise Products Partners has a history of resilience and great distributions. Prudential Financial offers a juicy dividend and attractive valuation. 10 stocks we like better than Enbridge › The conventional wisdom is that ultrahigh-yield dividend stocks are risky. Some could be concerned that the dividends might be unsustainable. These can sometimes be legitimate worries, but not always. Income investors seeking dependable income can find great companies that pay juicy dividends. Here are three ultrahigh-yield dividend stocks you can buy right now with no hesitation. 1. Enbridge Enbridge (NYSE: ENB) offers an attractive forward dividend yield of 6.06%. The company also has an impressive track record of increasing its dividend for 30 consecutive years. I don't think it's in danger of ending that streak anytime soon. The main reason for my confidence in Enbridge is its underlying businesses. Roughly 30% of the crude oil produced in North America and 40% of U.S. crude oil imports are transported through the company's pipelines. Enbridge's pipelines transport around one-fifth of the natural gas used in the United States. The company is also the largest natural gas utility by volume in North America. I like Enbridge's stability. More than 98% of the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) are either regulated or part of take-or-pay contracts where buyers either take delivery or pay a penalty. Around 80% of Enbridge's EBITDA is protected against inflation. This energy infrastructure company's cash flows are steady and predictable. Its balance sheet is strong. Enbridge expects to grow its business by around 5% per year on average through the end of the decade. I believe that goal will be achieved, making this ultrahigh-yield dividend stock a no-brainer pick for income investors. 2. Enterprise Products Partners Enterprise Products Partners (NYSE: EPD) gives income investors many of the same positives that Enbridge does. Even better, its forward distribution yield of 7% is higher. While Enterprise hasn't increased its distribution for 30 consecutive years like Enbridge has, it's not too far behind with a 26-year streak of distribution hikes. Granted, Enterprise Products Partners' business isn't quite as diversified as Enbridge's. The company operates over 50,000 miles of pipeline and other midstream assets with a heavy focus on natural gas liquids (NGLs). But I think its business is one you can count on. History is on my side in this view, by the way. Enterprise Products Partners has generated dependable cash flow since it's been in business, a period that included the Great Recession, the oil price collapse of 2015 through 2017, and the COVID-19 pandemic. The demand for U.S. natural gas, NGLs, and oil should grow over the next several years. Enterprise Products Partners is well-positioned to take advantage of this growth with its current pipelines and $7.6 billion in major capital projects under construction. 3. Prudential Financial Moving outside of the energy sector, I think Prudential Financial (NYSE: PRU) is also a great ultrahigh-yield dividend stock to buy right now. The financial services giant offers a forward dividend yield of 5.29%. Prudential has increased its dividend for 17 consecutive years. This company is probably best known for its insurance operations. Prudential is also a big player in the retirement business. Its PGIM unit is a lucrative global investment management business. These different revenue sources provide a level of diversification for Prudential. In addition, the company's reduction in exposure to traditional variable annuities and guaranteed universal life insurance products makes its business less risky than in the past. Granted, Prudential's stock performance has been dismal lately. However, that's made its valuation even more attractive. Shares currently trade at a forward price-to-earnings ratio of 7.94. The slogan for Prudential for years has been, "Get a piece of the rock." I think that's good advice for income investors seeking ultrahigh dividends. Should you buy stock in Enbridge right now? Before you buy stock in Enbridge, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Enbridge wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $665,092!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,477!* Now, it's worth noting Stock Advisor's total average return is 1,055% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Keith Speights has positions in Enbridge, Enterprise Products Partners, and Prudential Financial. The Motley Fool has positions in and recommends Enbridge. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy. 3 Ultrahigh-Yield Dividend Stocks You Can Buy Right Now With No Hesitation was originally published by The Motley Fool
Yahoo
13 hours ago
- Business
- Yahoo
Enbridge reaches FID on 600MW Clear Fork solar project
Enbridge has announced a final investment decision (FID) on the Clear Fork solar project near San Antonio in the US state of Texas. The 600 MW utility-scale facility is expected to commence operations by summer 2027. Enbridge's commitment involves an estimated $900m for construction. This investment is anticipated to be accretive to both cash flow and earnings per share from 2027 onwards. Meta Platforms has entered a long-term agreement to gain access to all renewable energy produced by Clear Fork. Enbridge renewable power president and corporate strategy executive vice-president Matthew Akman stated: "Clear Fork demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data centre operations. "Enbridge continues to advance its world-class renewables development portfolio using our financial strength, supply chain reach and construction expertise under a low-risk commercial model that delivers strong competitive returns." Construction on the Clear Fork site is already underway. In addition, Enbridge has also invested $8bn in green initiatives since its initial wind farm investment back in 2002, as reported by Bloomberg. The company's portfolio now includes 23 wind farms, 13 solar facilities and one geothermal plant. Together, these projects generate sufficient electricity to supply 1.3 million homes with power. Meta Global Energy head Urvi Parekh stated: "We are thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100% clean energy.' In June 2025, Meta Platforms agreed with XGS Energy to facilitate the development of a 150MW geothermal energy project in New Mexico. The project will be implemented in two phases, with the initial smaller phase and the larger second phase both operational by 2030. "Enbridge reaches FID on 600MW Clear Fork solar project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
National Observer
14 hours ago
- Politics
- National Observer
Coastal First Nations call on Carney to uphold oil tanker ban
Indigenous leaders on British Columbia's north coast are calling on the federal government to hold out against pressure from Alberta and industry to reverse the west coast oil export ban. On Tuesday, the Coastal First Nations, a group of nine First Nations along the north and central coast of BC and Haida Gwaii, wrote an open letter to Prime Minister Mark Carney. The group urged the government to uphold Bill C-48, known as the Oil Tanker Moratorium Act. Since 2019, this law has prohibited tankers carrying over 12,500 metric tons of crude oil and other oil products from stopping or transferring cargo at any port between the northern tip of Vancouver Island and the Alaska border, which includes Haida Gwaii, the Hecate Strait and Queen Charlotte Sound. The act formalizes protections that Indigenous communities and environmentalists have been seeking since the 1970s. It effectively bans crude oil supertankers from one of the world's most pristine cold-water marine ecosystems, home to whale habitats, wild salmon, seabirds and ancient rainforests. Exports through the Juan de Fuca Strait are allowed, meaning the ban has not interfered with the Trans Mountain pipeline expansion. The controversy comes as Carney said in a recent statement that a new bitumen pipeline to BC's north coast is 'highly, highly likely.' His remark aligns with Alberta Premier Danielle Smith and federal Conservative MPs push to lift the tanker ban. Smith has specifically called for faster federal approvals for pipeline projects and an exemption at the Port of Prince Rupert to allow oil exports to Asia. But Marilyn Slett, president of the Coastal First Nations and chief councillor of the Heiltsuk Tribal Council, said oil tankers are a 'non-starter' for her community. 'An oil tanker project is not something we can ever provide consent to,' she said. 'Our communities rely on healthy oceans and ecosystems for our livelihood and culture. Reversing or weakening this legislation would put everything our communities depend on at risk.' Marilyn Slett, president of the Coastal First Nations and chief councillor of the Heiltsuk Tribal Council, said oil tankers are a 'non-starter' for her community. The tanker ban was instituted after more than a decade marked by energetic opposition to pipelines to the West Coast. The Northern Gateway pipeline, first proposed by Enbridge in 2002, was ultimately halted in 2016 after more than 130 First Nations publicly opposed the project and courts ruled that consultations had been inadequate. Slett called the decision a major win for Indigenous rights and protection of coastal areas, and said any new talks should not repeat old mistakes. Marilyn Slett, president of Coastal First Nations and Heiltsuk chief councillor, signs an open letter urging Prime Minister Carney to uphold the north coast oil tanker ban. Indigenous leaders have come out against crude oil tankers but have been more accepting of other types of ships, especially those carrying liquefied natural gas (LNG). By 2030, as many as 600 LNG vessels are expected to pass through their waters — activities accommodated through lengthy engagement and approval processes with communities, said Danielle Shaw, chief councillor of the Wuikinuxv Nation and a board member of the Central Coast Indigenous Resource Alliance. 'We're open to discussing projects that will be sustainable and responsible and can strengthen the economy of Canada and British Columbia,' Shaw said. 'But there's strong opposition to oil tankers on this coast because of the impacts it would have for our communities directly.' Slett noted that with 175 LNG tankers already passing through coastal channels this year and more expected, the impact on the ecosystem is significant. 'This is substantial, and those have cumulative effects on the ecosystem. They are in place and serving as projects for British Columbia and other communities. This [oil tankers] is something we cannot add … it's not something we would support.' The risks from oil spills are considered too great. 'When it comes to allowing oil tankers on our coast, it wouldn't be if something were to happen, it would be when something happens,' Shaw said. Slett criticized the lack of formal consultation regarding renewed pipeline proposals. Bill C-5 was rushed through Parliament in just two weeks, and a meeting between Carney and First Nations leaders from across Canada last week was allotted just a few hours. 'There's been a lot of talk about us without talking to us,' she said. She said she learned about energy proposals through the news rather than direct government engagement. The open letter invites Carney to visit the north coast to see why the tanker moratorium remains vital and to consider how a path forward without an oil pipeline can benefit the region. Slett said her communities prefer discussion and collaboration but remain firm in their opposition. 'Court challenges and direct action would always be a last resort,' she said. 'We've built relationships with provincial and federal partners that we want to maintain, but we won't support new pipelines. The tanker ban must stand.'
