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Thursday, August 5, 2010

Enbridge wants to avoid lawsuits - offers to buy homes in vicinity of oil spill

Phaedra Friend Troy of Penn Energy has reported on the Enbridge response to threats of legal action.  Patrick Daniel, Enbridge's CEO, says that no one has to sue in order to be "made whole".  Enbridge has actually offered to purchase all of the properties within 200 feet of the Kalamazoo River spill.  The price offered is the asking price for the homes before the spill or the pre-spill appraised value of homes that were not already offered for sale.

Read the article at: Penn Energy article - August 4, 2010.