A new briefing for Dominion Energy investors by Oil Change International & Friends of the Earth U.S. breaks down some of the major challenges to the completion of the Atlantic Coast Pipeline, which faces significant financial, legal, and regulatory hurdles.
The ACP is facing a triple threat of challenges that combine to present serious obstacles for the project to reach completion, which are are likely to further delay construction and raise the project’s price tag even higher. It would be prudent for investors to question whether pursuing the project further is a wise use of capital.
“Energy Transfer’s projects across Pennsylvania and the country continue to trample Indigenous rights, endanger communities, land, and water, and wreck the climate,” said Collin Rees of Oil Change International. “Until these projects are shut down permanently, that’s not going to change.”
A remarkable thing just happened in Canada’s oil patch. Tar sands producers have actually started to cut oil production in the face of growing pipeline constraints.
What does it say about the prospects for multi-billion dollar tar sands oil pipelines, that a national government felt the need to buy a project outright in order to try to save it? When Canadian Prime Minister Justin Trudeau decided to buy-out a failing tar sands pipeline from texas-based Kinder Morgan last month, it exposed … Read More
“It’s not surprising that Kinder Morgan – successor to fraud-plagued Enron – wants to unload this boondoggle onto taxpayers. What’s surprising and disappointing is that Canada fell for it.”
Trudeau may finally reveal today the true extent of the stranglehold that Canada’s oil and gas industry has over his government.
Over 230 civil society groups from 44 countries released an open letter being sent to Canadian Prime Minister Justin Trudeau, urging him to reject the pipeline and instead begin planning for a managed decline of fossil fuel production and a just transition for workers and impacted communities.
As millions celebrate Thanksgiving, the bosses at TransCanada will not be in a cheerful, festive mood. They will be wondering what went wrong over the last week, after they seem to have snatched defeat from the jaws of victory.
Today the Nebraska PSC chose to stand with Trump, climate denial, and Big Oil. Good luck with that. Whatever happens now there is precisely zero chance that the global citizen, investor, and government momentum behind the Paris goals and against the fossil fuel industry will be stopped. Even if Trump and the PSC are out, the rest of the world is #stillin.