Enbridge Inc. (NYSE: ENB) on June 15 endorsed either an underwater tunnel or trench to replace a section of its 65-year-old energy pipeline that travels under a stretch of the U.S. Great Lakes in Michigan. Some local officials want the line removed to prevent the potential for a spill into lake waters. The state of Michigan proposed moving the line into a tunnel under the lake bed and asked the company to evaluate it and other alternatives. The Canadian pipeline operator said a tunnel would cost between $350 million and $500 million and take five to six years to assemble.
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