Canadian energy company anticipates protests, plans to fund U.S. law enforcement
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Enbridge has agreed to funnel money to U.S. law enforcement in anticipation of protests against its Line 5 pipeline reroute project, a move that has raised concerns about the depth of the company’s influence in policing issues.
The Calgary-based company says it volunteered the public safety fund to help governments in Wisconsin cover the extra costs related to the rerouting of the pipeline opposed by Indigenous communities.
The proposed deal has alarmed some local residents and observers in Canada who say it smacks of a conflict of interest and fear it could incentivize police to act as the company’s hired security.
“It’s hard to think that there’s not some kind of transactional benefit to paying the bills,” said Jeffrey Monaghan, a Carleton University sociologist who’s written extensively on the policing of protests.
Monaghan said while resource companies cultivate close relationships with police in Canada as a way to advance their projects or quell protests, this type of deal would likely be received poorly north of the border. That said, Canada has been influenced by U.S. criminal justice policy before, he says.
“I think it certainly could migrate up. I really hope it doesn’t,” he said.
Iran and the United States hardened their positions as a diplomatic push for a ceasefire in the Middle East war appeared to falter on Thursday.
Asian stocks traded lower and oil prices rose back to around US$100 per barrel on Thursday as a de-escalation of the Iran war remained uncertain.
Crude oil prices have dipped slightly amid hope for an easing of conflict in the Middle East, but remain far above prices before the United States launched its attack against Iran.
Hopes for a possible end to the war with Iran pushed stocks higher on Wall Street Wednesday, while oil prices eased.
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Two Canadian institutional giants are buying renewable power producer Boralex Inc. in a deal that they say will provide the scale and resources needed to accelerate growth.
Canada’s main stock index was up nearly 300 points in late-morning trading, helped by strength in the base metals and utilities sectors, while U.S. stock markets also climbed.
Muted reaction to U.S.-Iran talks reflects fragile sentiment as recession risks rise and bond yields climb amid ongoing geopolitical uncertainty.
Aecon Group Inc. says a joint venture has finalized a US$691-million contract with the U.S. Army Corps of Engineers for a project in Washington state.
U.S. corporate finance chiefs’ outlook for the economy improved over the first months of the year, at least until the outbreak of the U.S.-Israeli war on Iran, with executives expecting to increase employment amid solid revenue growth, though with continued pressure as well to raise prices, according to a Federal Reserve survey.
U.S. suppliers have shipped approximately 30,000 barrels of fuel to Cuba’s private sector this year to date, according to documents and shipping data viewed by Reuters, suggesting a Trump administration plan to give private business a leg up over state-run enterprise is well underway.
Mining analyst sees copper, gold and lithium stocks benefiting from supply constraints, electrification and long-term demand trends.
An oil refinery fire near the Texas coast was put out Tuesday and a shelter-in-place order was lifted following air-quality testing, hours after a large explosion at the complex shot plumes of smoke into the air, officials said.