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.
“The additional ‘restrictions’ placed are woefully inadequate. The DEQ mandates the use of ‘Horizontal Directional Drilling’ to protect the Neuse River – yet this same drilling technique is so dangerous that it’s resulted in state and federal regulators shutting down construction of two major natural gas pipelines just this month.”
The Atlantic Coast Pipeline, like the Mountain Valley Pipeline, is a boondoggle that imperils our climate and communities. It must not be built. The Water Board has given itself an important opportunity to complete its work the right way by finalizing a complete rejection.
FERC has ignored all the evidence and certified these destructive gas pipeline projects as ‘convenient and necessary’ – when in fact they are neither.