Spectra Energy (Nexus pipeline) sold to Enbridge for $28 billion

Enbridge (a Canadian company) agreed to pay $40.33 a share to purchase Spectra Energy this week.  Spectra is currently working to secure easements for the Nexus pipeline, but has been battling to get FERC approval in northeast Ohio:  http://www.crainscleveland.com/article/20160906/NEWS01/160909907/en...

The latest controversy of the Nexus pipeline is allegations that someone is sending bogus letters to FERC in support of the pipeline.  A Hinckley Ohio resident claims that someone used her identity to send a letter of support to FERC.  Many other letters are also suspect:  http://fox8.com/2016/09/01/opponents-of-nexus-pipeline-claim-someon...

Spectra also was in the news earlier this year when one of their pipelines exploded in northwestern Pennsylvania.  One person was burned and several houses were damaged.  There was some speculation that the pipeline may have been damaged by a seismic company that was setting off ground charges earlier in the year.  However, preliminary investigation showed that there were signs of corrosion in the pipeline, which had not been inspected since 2012.  There appears to be a flaw with the coating that was applied to the welds when the pipeline was built in 1981.  This flaw allowed the welds to corrode.  15 miles of pipeline remain shut down.  The condition of the weld coating is not known in the other 9000 miles of Texas Eastern pipeline system:  https://stateimpact.npr.org/pennsylvania/2016/05/04/pa-pipeline-exp...

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