- Energy Transfer Partners (ETP) is continuing to pursue a court challenge to force the Obama administration to approve completion of the Dakota Access pipeline instead of waiting for Pres.-elect Trump to take office next month.
- ETP's lawyers asked the U.S. District Court in D.C. for an expedited ruling late Monday that would allow the company to complete the project, and a hearing in the case is scheduled for Friday morning.
- ETP argued that the Army Corps of Engineers already had approved completion of the pipeline via a crossing underneath the Missouri River, and that the final easement is merely a perfunctory "ministerial" document, adding that the delays amount to political interference and are not supported by the law.
- The delays already have cost ETP $450M, according to court papers, and ETP has said continued delays cost ~$83M/month.
- Meanwhile, with access to the pipeline in limbo, shippers of Bakken crude will turn to rail, which poses its own dangers to the environment and local communities.
- Other relevant tickers include ETE, SXL.