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The United States’ supply of natural gas is expected to surge, and Enbridge Inc. is proposing to expand existing pipelines in the Greater Toronto Area to carry cheap gas from the Marcellus shale reserves in the northeastern U.S. . When given the opportunity to participate in the Ontario Energy Board’s hearing, environmental groups naturally lodged their protests. Surprisingly, however, the critique fostered by left-leaning social justice organization the Council of Canadians wasn’t solely based on concern for mother nature. Their filings raise a more interesting question (at least, for investors): what if regulation makes importing U.S. shale gas uneconomic?

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