(Bloomberg) -- Exxon Mobil Corp., the world's largest
oil company, and Enbridge Inc. are planning a pipeline to haul
crude from Alberta's tar sands to the heart of the U.S. refining
industry in Texas.
Irving, Texas-based Exxon Mobil and Calgary-based Enbridge
said the line would link a pipeline hub in Patoka, Illinois, to
Beaumont, Texas, and Houston. They declined to comment on the
possible cost. Such a project might cost $2 million per mile to
build, for a total cost of about $1.4 billion, said Steven Paget,
an analyst at FirstEnergy Capital Corp. who has an ``outperform''
rating on Enbridge shares and doesn't own any.
Read more at Bloomberg Energy News
oil company, and Enbridge Inc. are planning a pipeline to haul
crude from Alberta's tar sands to the heart of the U.S. refining
industry in Texas.
Irving, Texas-based Exxon Mobil and Calgary-based Enbridge
said the line would link a pipeline hub in Patoka, Illinois, to
Beaumont, Texas, and Houston. They declined to comment on the
possible cost. Such a project might cost $2 million per mile to
build, for a total cost of about $1.4 billion, said Steven Paget,
an analyst at FirstEnergy Capital Corp. who has an ``outperform''
rating on Enbridge shares and doesn't own any.
Read more at Bloomberg Energy News
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