Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Biden admin considering shutting down Michigan pipeline ...

edited November 2021 in Other Investing
Biden admin considering shutting down Michigan pipeline, drawing criticism and dire warnings as winter nears.

I am glad that I am overweight engery. And, I feel for those that might be effected by this should it come to pass.


  • @catch22 : If this happens , be sure to invite the Prez for a weekend.
  • edited November 2021
    He's damned if he does...
    "Word that the Biden administration was quietly studying the potential market impact of killing the Line 5 pipeline, first reported by POLITICO, set off a firestorm of criticism from Republicans saying the move would worsen the spike that has already driven propane prices up 50 percent from a year ago just as Michigan residents — the nation's biggest consumers of the fuel — stock up for cold weather."

    And damned if he doesn't...
    "But equal pressure is coming from from environmental groups and Native tribes to back Michigan Gov. Gretchen Whitmer in her fight to shut the pipeline down. The groups say a potential oil spill from the 70-year-old pipeline that crosses the Straits of Mackinac would devastate the Great Lakes and Michigan’s coastal economies — a concern that grew after the lines were damaged by an anchor strike in 2018."

  • So rail cars will be used instead...that makes safety sense.
    shutting down the Line 5 pipeline would require 2,100 rail cars to deliver the oil from Superior, Wis., to the Imperial Oil refinery in Sarnia, Ontario, just across the U.S. border.
Sign In or Register to comment.