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U.S> government extends Dakota Access pipeline review

Published 11/14/2016, 05:57 PM
U.S> government extends Dakota Access pipeline review
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  • Energy Transfer Partners (NYSE:ETP) -1.2% AH on news that the Obama administration plans to extend its review before deciding on a permit for the $3.8B Dakota Access crude pipeline, further delaying work on a segment of the project that has been stalled since September.
  • The U.S. Army Corps of Engineers says further talks are warranted given the importance of the lake to the Standing Rock Sioux Tribe, and that it will work with the tribe on a timeline “that allows for robust discussion and analysis to be completed expeditiously.”
  • The setback likely will prove temporary, as the incoming Trump administration is expected to grant approval to finish the project.
  • Other relevant tickers: SXL, ETE, PSX, MPC, ENB, EEP

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