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Reuters: Canadian pipeline operator TC Energy Corp (TRP.TO) could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of U.S. and Canadian oil and gas pipelines. Calgary-based TC Energy, which ships oil and gas through nearly 100,000 kilometres (62,140 miles) of pipelines, one of […]
IEEFA
Memphis Commercial Appeal: The company planning to build the Byhalia Connection pipeline on Friday announced that it is abandoning the project, bringing a sudden end to one of the biggest environmental controversies in recent Memphis history. The project, which would have put a crude oil pipeline through mostly Black South Memphis neighborhoods, sparked a complex […]
Suzanne Mattei and Tom Sanzillo
Demise of Keystone XL should spur regulators, investors to reconsider massive pipeline projects
As the Federal Energy Regulatory Commission (FERC) reviews the public comments it recently received on its proposal to reconsider how it determines whether a gas pipeline should be granted a certificate of public convenience and necessity, it would do well to consider the cautionary tale of a massive fossil fuel infrastructure project, the Keystone XL […]
IEEFA
Wall Street Journal ($): Canada’s TC Energy Corp and the Albertan provincial government said Wednesday they would scuttle the Keystone XL oil pipeline project, bringing to an end a years-long controversy over an effort to pipe more Canadian crude to the U.S. The decision had been expected after President Biden used his first day in […]
IEEFA
NPR: As part of his ambitious plan to address climate change, President Biden is revoking a key cross-border presidential permit needed to finish the controversial Keystone XL pipeline This likely means the end of the $8 billion pipeline, a years-long project that would have carried oil sands crude from Alberta, Canada, to the American Gulf […]
Press Release, Dennis Wamsted and Bryndis Woods
Eleven PJM projects under development may fail to prove financially viable
October 5, 2020 (IEEFA) — The landscape for developers of natural gas-fired power plants in the nation’s largest regional power system has shifted dramatically over the last decade, according to a joint study by the Applied Economics Clinic and the Institute for Energy Economics and Financial Analysis. The Pennsylvania-New Jersey-Maryland (PJM) system coordinates the flow […]
Frank Bass
Business case for renewables-based economic development grows stronger by the day
The transition to renewable energy is frequently advocated on environmental grounds, but the financial case for moving away from fossil fuels is becoming undeniably clear, according to experts speaking during the final week of IEEFA’s 2020 Energy Finance Conference (July 14-30). The annual meeting of international energy, finance and policy experts, which was offered online […]
Larry Shapiro
Project cancellations highlight larger stressors in the oil and gas industry
If you are a pipeline developer, landmark court victories just aren’t what they used to be. Dominion Energy and Duke Energy announced on Sunday that they are canceling their proposed Atlantic Coast Pipeline just 20 days after they won a 7-2 decision in the U.S. Supreme Court authorizing them to build the pipeline underneath the Appalachian Trail. […]
Tom Sanzillo and Suzanne Mattei
Popular opposition, financial realities and alternative solutions spell defeat for multi-billion-dollar plans
Difficult and complex decisions are being made to reject the buildout of oil and gas pipelines in the United States and Canada. Long-term debates have finally come to a head, and three major pipeline projects have been halted as a result. The companies that planned to build the Atlantic Coast Pipeline recently threw in the […]
IEEFA
Greentech Media: Legal challenges halted several major pipeline projects across the U.S. in recent days, underscoring a seismic shift facing the U.S. utility industry: the rise of renewables as a potentially less costly and risky alternative to fossil fuels. Over the weekend Dominion Energy and Duke Energy, two of the country’s biggest utilities, canceled their Atlantic […]
IEEFA U.S.: Investors in gas-fired projects in largest regional power system face substantial risks
Eleven PJM projects under development may fail to prove financially viableOctober 5, 2020 (IEEFA) — The landscape for developers of natural gas-fired power plants in the nation’s largest regional power system has shifted dramatically over the last decade, according to a joint study by the Applied Economics Clinic and the Institute for Energy Economics and Financial Analysis. The Pennsylvania-New Jersey-Maryland (PJM) system coordinates the flow […]