A Canadian regulator’s rejection last week of Enbridge Inc’s (ENB.TO) plan to sell space long-term on the country’s biggest oil pipeline dealt the company a double whammy that analysts say could hit its bottom line. Enbridge lost a chance to secure shipping contracts for as long as 20 years, and could lose volume to its rival, Canadian government-owned Trans Mountain, which has sold space under long-term contracts for its expanded capacity that is due for completion in late 2022. Enbridge may also end up charging lower tolling rates to its shippers, after the Canada Energy Regulator (CER) found that Enbridge’s proposed toll was unreasonable. Calgary-based Enbridge’s proposal, supported largely by U.S. refiners that control most of the Mainline’s volume, would have allowed it to pre-sell 90% […]