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Energy Transfer seeks court intervention on Dakota Access

Published 11/15/2016, 02:57 PM
Energy Transfer seeks court intervention on Dakota Access
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  • Energy Transfer Partners (ETP -0.5%) and its Sunoco Logistics Partners (SXL -0.4%) subsidiary file papers in U.S. district court in Washington, D.C. seeking declaratory relief to "end the Administration's political interference in the Dakota Access Pipeline review process," and noting government delays already have cost more than $100M.
  • The companies are seeking an easement to tunnel under Lake Oahe, the water source at the heart of accelerating protests against the pipeline, but yesterday the U.S. Army Corps of Engineers again delayed approval, saying it plans to get more input from the Standing Rock Sioux in light of the tribe repeatedly being "dispossessed" from its lands in the past.
  • More protests against the pipeline are taking place taking outside Army Corps offices and major banks financing construction of the pipeline, such as TD Bank and Citigroup (NYSE:C); police used mace and arrested several protesters in Cannon Ball, N.D., near the path of the pipeline.
  • Analysts still expect the pipeline to be completed, but "what is less clear is the startup date, and the exact routes," says an analyst at Wood MacKenzie.

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