Energy Transfer Partners LP (ETP)

[benfrankledger]

$ETP A federal judge today revoked a permit for Energy Transfer Partners' (ETP, ETE) Bayou Bridge oil pipeline in Louisiana, stopping work on part of the project following protests by local and environmental groups.

The preliminary injunction requires the U.S. Army Corps of Engineers to revisit its approval of the pipeline’s construction through the Atchafalaya Basin, nearly 1M acres of swampland that pipeline opponents say is a critical component of Louisiana’s flood protection system and a source of livelihood for the commercial fishing industry.

The $175M, 162-mile pipeline would transport crude from Lake Charles to St. James, La., connecting to an existing line that originates in Nederland, Tex.; it is 60% owned by ETP with the rest owned by refiner Phillips 66 (NYSE:PSX).