Monday, June 6th, was a bad day for the pipeline industry. The Atlantic Coast Pipeline was cancelled by Dominion and Duke Energy. A federal judge ordered The Dakota Access Pipeline to shut down over issues regarding the environmental review process. And the Supreme Court upheld a decision that halts the construction of part of the Keystone XL Pipeline.
These rulings present an uncertain future for the midstream sector of the energy business, the part of the supply chain that makes pipelines like Keystone and Dakota Access. Between federal rulings, protestors and falling oil and gas prices, pipelines are less profitable than they once were. This has opened the door for funding and research into making renewable energy a viable option for the future of the country’s energy consumption.
Read the full profile on Forbes: https://www.forbes.com/sites/davidblackmon/2020/07/07/monday-was-a-no-good-terrible-very-bad-day-for-the-pipeline-business/#1edfeab12852
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The Complicated Future Of Pipelines And The Energy Sector | Forbes