Enbridge Inc Ordered to Shut Down Strategic Pipeline

Enbridge Inc ($ENB) was recently ordered to shut down a strategic pipeline and pay $5M's to a Wisconsin "tribal reservation" for trespassing and illegally operating on tribal land. The corporation was also ordered to pay a portion of its profits to the tribe for as long as the pipeline continues to operate in trespass. Corporate commentary argues that the court ruling will eliminate 6,000 jobs and accumulate around $5B's in lost economic output in the Upper Midwest region. This ruling is a result of the growing number of tribal territories demanding compensation for corporate entities operating in trespass on the Land.

We could see further depreciation in the company's stock in the next couple of months as an unbalanced oil market loom. Mixed sentiments from crude producing countries have shown more volatility and possibly more depreciation is imminent for the commodity. Regardless of market rhetoric, court rulings favoring tribal law will sprout a new sentiment on market conditions for the up-and-coming years.

Let's see how the 🎲 roll.

#crudeoil #Enbridge #triballaw