Gas price expert says shutting down Line 5 Pipeline would cause major increase at the pumps
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One gas industry expert says shutting down a controversial oil and gas pipeline in Michigan would lead to a major increase at the pumps north of the border.
Roger McKnight, Chief Petroleum Analyst with En-Pro International, says we would see an increase of between 12 to 16 cents a litre at gas stations in southern Ontario and Quebec if Enbridge is forced to close up its Line 5 pipeline which moves oil and natural gas from western Canada through the state and great lakes to refineries in Ontario.
Michigan has ordered Enbridge to shut down the pipeline citing environmental concerns but the company says it has never experienced a leak in the underwater portion of the pipeline in 68 years.
The two sides are headed to court-ordered arbitration on Tuesday and McKnight says he doesn’t think a shutdown order is in the works.
“I think Enbridge will huff and puff and the State of Michigan will huff and puff and somebody in between is going to have to decide which way to go.”
As for the Colonial Pipeline shutdown affecting gas stations in the U.S. Southeast, McKnight says we will feel it at our pumps if it continues to go on.
That pipeline was hit by a cyber attack last week by hackers who locked up computer systems and demanded money to release them.
It’s anticipated operations will be back to normal by the end of this week.