by ed » July 21, 2018, 9:44 am
In today's news ( 7/21 ) the D E Q has estimated that a breach in Enbridge line 5 could release 32,000 to 58,000 barrels of oil. This would result in a cost of about 2 billion dollars ( U S ) to clean up. I believe and support the idea that Enbridge be required to place a 2 billion dollar bond ( U S funds ) into escrow in the U S to insure such a clean up would indeed be funded. As it stands currently, if such a breach were to happen, Enbridge would simply declare a bankrupt situation and go out of business. The 2 billion dollar clean up of such a breach would be up to the U S taxpayers to fund. It is not unusual for a business to be required to post such a bond, held in an escrow fund, to conduct hazard related business.
That's my feelings on this dangerous D E Q report and I'm interested on other folks feelings. Please let us know !
In today's news ( 7/21 ) the D E Q has estimated that a breach in Enbridge line 5 could release 32,000 to 58,000 barrels of oil. This would result in a cost of about 2 billion dollars ( U S ) to clean up. I believe and support the idea that Enbridge be required to place a 2 billion dollar bond ( U S funds ) into escrow in the U S to insure such a clean up would indeed be funded. As it stands currently, if such a breach were to happen, Enbridge would simply declare a bankrupt situation and go out of business. The 2 billion dollar clean up of such a breach would be up to the U S taxpayers to fund. It is not unusual for a business to be required to post such a bond, held in an escrow fund, to conduct hazard related business.
That's my feelings on this dangerous D E Q report and I'm interested on other folks feelings. Please let us know !