Pipelines getting KILLED!!!!!!!!

[shiny!]

I figure if someone doesn't say it, Mike will.

Court orders Dakota Access pipeline shutdown pending review
Jul. 6, 2020 11:02 AM ET|About: Energy Transfer LP (ET)|By: Carl Surran, SA News Editor

The U.S. District Court for the District of Columbia orders Energy Transfer's (ET -7%) Dakota Access pipeline to shut down by Aug. 5, saying the pipeline - which has been operating for three years - needs further environmental review.

U.S. District Judge Boasberg says a key Army Corps of Engineers permit for Dakota Access fell too far short of National Environmental Policy Act requirements to allow the pipeline to continue operating while regulators conduct a broader analysis the court ordered in a previous decision.

The decision is a stunning victory for the Standing Rock Sioux tribe and environmental activists that have opposed the project for years, and comes just one day after developers scuttled the Atlantic Coast pipeline project after years of legal delays.

today...

Judge denies initial stay request in Dakota Access shutdown order

Jul. 7, 2020 2:16 PM ET|About: Energy Transfer LP (ET)|By: Carl Surran, SA News Editor

The U.S. District Court for the District of Columbia denies an initial request by owners of the Dakota Access Pipeline that asked the court to reconsider its order to shut and empty the 570K bbl/day line by Aug. 5.

The group led by Energy Transfer (ET +3.6%) says it will pursue a stay and expedited appeal with the U.S. Court of Appeals to delay the process of shutting the pipeline.

Energy Transfer claims it could take three months to empty the pipeline, putting it in jeopardy of violating yesterday's court order.

Dakota Access will need to show that the order forcing the pipeline to shut was wrong and that it will cause significant financial harm to the company and other beneficiaries - "it's still a long shot," says James Coleman, a law professor at Southern Methodist University.

Analysts generally believe Energy Transfer and Phillips 66 Partners (PSXP -0.5%) have the highest direct exposure to the DAPL shutdown, while ONEOK (OKE -0.4%) could be affected through reduced Bakken natural gas liquids production.

Kinder Morgan (KMI -2.0%) could benefit via its Double H pipeline, while Crestwood Equity Partners (CEQP +4.6%) and Phillips 66 Partners could benefit from their crude-by-rail footprint.

This is bad. Since the bloodbath in oil prices, PSXP managed to hold its value better than my other MLPs. It was down 18% yesterday on this news, joining EPD, MMP and SHLX in the toilet. sigh.

[shiny!]

Re: Pipelines getting KILLED!!!!!!!!

So they'd rather have coal-fired plants for all their shiny new EVs? Or nuclear? Maybe go back to horse and buggy? No, horse farts contribute to global warming, pardon me, climate change.

Maybe we should all just lay down and die now. Unless we're on the Left. The Left doesn't contribute to global warming, pardon me, climate change any more than their mass demonstrations contribute to Covid-19 cases because, you know, VIRTUE.

End of Atlantic Coast Pipeline Reflects ‘New Era’ for Energy Projects

Seth Cline

The Atlantic Coast Pipeline – a multibillion-dollar proposed pipeline that would bring natural gas from the West Virginia mountains to the North Carolina coast – is no more, the project's backers have announced.

The leaders of Dominion Energy and Duke Energy, two of the country's largest energy utilities, said the project, which has been underway since 2014, was now "too uncertain to justify investing more shareholder capital."

The decision, made public Sunday, is a major victory for environmental advocates who have opposed the project from its outset and slowed its progress via legal challenges.
"This is a sustained effort that has been going on for six years and has been truly relentless," says Kelly Sheehan Martin, director of the Sierra Club's Beyond Dirty Fuels Initiative. "At every turn, there have been thousands of people speaking out against this project."

Much of the battle over the pipeline has taken place in courts, where the utility companies have fought to secure the necessary permits to build and clear land for the project. In abandoning the pipeline, the companies cited these legal hurdles as a primary factor.

"This announcement reflects the increasing legal uncertainty that overhangs large-scale energy and industrial infrastructure development in the United States," Thomas Farrell, Dominion Energy's chairman and CEO, said in a statement. "Until these issues are resolved, the ability to satisfy the country's energy needs will be significantly challenged."

Though Dominion and Duke benefited from a recent Supreme Court decision that would allow the project to cross the Appalachian Trail, the companies said other recent court decisions presented "new and serious challenges" to the project.

The Department of Energy also blamed legal challenges for the pipeline's demise.

"Duke and Dominion have had to make the difficult decision to end this project because it is no longer economically viable due to the costly legal battles they would continue to face,"

Secretary of Energy Dan Brouillette said in a statement Sunday. "The well-funded, obstructionist environmental lobby has successfully killed the Atlantic Coast Pipeline, which would have lowered energy costs for consumers."

The pipeline's demise may reflect increasing uncertainty in the natural gas market. The Atlantic Coast Pipeline is one of several proposed pipelines that aim to bring natural gas from the Marcellus Shale – a mid-Atlantic deposit that is one of the largest gas fields in the world – to surrounding regions, and it is at least the third such pipeline to have been canceled or held up this year.

All three met heavy opposition from local communities and environmental advocates, which slowed the projects' progress and increased costs.
The Atlantic Coast Pipeline's backers said that, owing primarily to legal expenses, the project's estimated cost had risen to $8 billion from the original estimate of $4.5 to $5 billion.

In addition to abandoning the pipeline, Dominion Energy, the largest of the project's backers, announced Sunday that it would sell much of its gas pipeline business to Berkshire Hathaway Inc. For some, the decision is a sign of things to come.

"The writing's been on the wall for a little while now," says Sheehan Martin, of the Sierra Club, of the Atlantic Coast Pipeline's failure. "It's a new era for how hard it is to build new massive fossil fuel infrastructure projects that would lock us in for decades."

Copyright 2020 U.S. News & World Report

[Mega]

Re: Pipelines getting KILLED!!!!!!!!

I tried to wrap my mind round what the HELL is going on......?

[shiny!]

Re: Pipelines getting KILLED!!!!!!!!

It's a concerted effort by the Left to destroy the economy and usher in a new Marxist world order under the false auspices of the Green New Deal.

[sadsack]

Re: Pipelines getting KILLED!!!!!!!!

We are in the era of "four legs good, two legs bad." My own 11 year old son (having just seen the 1984 film "1984") actually mentioned how INSCOC things are popping up now in the media, etc.. I fear for his future in this crazy world. I pray for us all and for sanity - as has been said "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."

[shiny!]

Re: Pipelines getting KILLED!!!!!!!!

We are in the era of "four legs good, two legs bad." My own 11 year old son (having just seen the 1984 film "1984") actually mentioned how INSCOC things are popping up now in the media, etc.. I fear for his future in this crazy world. I pray for us all and for sanity - as has been said "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."

I feel for you, sadsack. If I had children I would be worried about them, too. These are dark times. The thing that gets me is it didn't have to be this way. We've been watching a slow motion train wreck picking up steam since 1963.

Your quote is true, and it resembles the one that markets can stay irrational longer than we can stay solvent. Question is, will people come to their senses before madness takes over completely? Will this country that has been blessed with so much actually become another Venezuela?

[GRG55]

Re: Pipelines getting KILLED!!!!!!!!

...This is bad. Since the bloodbath in oil prices, PSXP managed to hold its value better than my other MLPs. It was down 18% yesterday on this news, joining EPD, MMP and SHLX in the toilet. sigh.

shiny! Over time you will discover that the inability to build new pipelines increases the value of the ones that have already been built. Look to hold those companies that have good quality existing pipeline infrastructure in regions that are likely to grow in population faster than the national average.

There's a scarcity premium developing. But you will need to be patient and have the courage of conviction to realize that premium.

And you will need to have conviction that the USA economy is going to recover and grow in the years ahead (which to me is a no-brainer bet). Think like Warren Buffett...

[shiny!]

Re: Pipelines getting KILLED!!!!!!!!

shiny! Over time you will discover that the inability to build new pipelines increases the value of the ones that have already been built. Look to hold those companies that have good quality existing pipeline infrastructure in regions that are likely to grow in population faster than the national average.

There's a scarcity premium developing. But you will need to be patient and have the courage of conviction to realize that premium.

And you will need to have conviction that the USA economy is going to recover and grow in the years ahead (which to me is a no-brainer bet). Think like Warren Buffett...

Thanks, GRG55. I have no intention of selling, altho I do worry that SHLX might go under entirely. And I worry about what will happen if the Dems win a sweep this November or later on. But I'm not selling at the bottom. I just wish I had more cash to invest in this bottom. Except in SHLX. What a dog that one's been! Except that insults dogs, whom I happen to like.

[touchring]

Re: Pipelines getting KILLED!!!!!!!!

I just thought that you guys will bring up the fact that Warren Buffett has gobbled up Dominion Energy's gas pipelines? I've not heard of Dominion Energy even though I know about EPD and ET for a couple of years although I've not own any. After some research, it appears that EPD's business is the closest to what Buffett bought?

[Milton Kuo]

Re: Pipelines getting KILLED!!!!!!!!

I just thought that you guys will bring up the fact that Warren Buffett has gobbled up Dominion Energy's gas pipelines? I've not heard of Dominion Energy even though I know about EPD and ET for a couple of years although I've not own any. After some research, it appears that EPD's business is the closest to what Buffett bought?

I was about to post about that. Apparently, Buffett's purchase is for natural gas infrastructure.

https://markets.businessinsider.com/...0-7-1029368062

David Rosenberg's comment is, "Perfect hedge by Warren Buffett on deflation (recurring cash stream) and inflation (hard asset play)." Dave Portnoy's trash talk is, "PANIC MODE FOR OLD WARREN."

[touchring]

Re: Pipelines getting KILLED!!!!!!!!

I was about to post about that. Apparently, Buffett's purchase is for natural gas infrastructure.

https://markets.businessinsider.com/...0-7-1029368062

David Rosenberg's comment is, "Perfect hedge by Warren Buffett on deflation (recurring cash stream) and inflation (hard asset play)." Dave Portnoy's trash talk is, "PANIC MODE FOR OLD WARREN."

I think this makes a lot of sense. NG is used to generate electricity and battery electric cars need electricity so this is a good long term play, better than fuel oil.

[shiny!]

Re: Pipelines getting KILLED!!!!!!!!

I was about to post about that. Apparently, Buffett's purchase is for natural gas infrastructure.

https://markets.businessinsider.com/...0-7-1029368062

David Rosenberg's comment is, "Perfect hedge by Warren Buffett on deflation (recurring cash stream) and inflation (hard asset play)." Dave Portnoy's trash talk is, "PANIC MODE FOR OLD WARREN."

Buffet owns trains. Oil pipelines are in competetion to his trains. So he donates to the Dems to get them to oppose pipelines. Check.

Natural gas burns cleaner than coal. Power plants are switching to from coal to NG. They need pipelines to bring liquid natural gas to them.

The big Atlantic Coast pipeline project that would have brought clean natural gas to the NE was opposed by the Green Dems and just got killed. Check.

Everybody's playing Calvinball now.

[touchring]

Re: Pipelines getting KILLED!!!!!!!!

Buffet owns trains. Oil pipelines are in competetion to his trains. So he donates to the Dems to get them to oppose pipelines. Check.

Natural gas burns cleaner than coal. Power plants are switching to from coal to NG. They need pipelines to bring liquid natural gas to them.

The big Atlantic Coast pipeline project that would have brought clean natural gas to the NE was opposed by the Green Dems and just got killed. Check.

Everybody's playing Calvinball now.

You mean the racist BLM party?

Coal is dead in the long term. World is moving towards renewables and NG. Even if there is no renewables and NG, they will use nuclear, only a matter of time, but not coal.

[GRG55]

Re: Pipelines getting KILLED!!!!!!!!

...Coal is dead in the long term. World is moving towards renewables and NG. Even if there is no renewables and NG, they will use nuclear, only a matter of time, but not coal.

In the long term we are all dead. In the foreseeable future coal will continue to be a critically important contributor to the global energy mix.

https://www.mining.com/global-coal-p...y-0-5-in-2020/

Global coal production will grow this year despite covid-19

April 9, 2020 | 3:09 pm Energy Intelligence Asia Coal

Global coal production is expected to grow only marginally in 2020, from 8.13 billion tonnes in 2019 to 8.17 billion tonnes in 2020, a growth of only 0.5% after three consecutive yearly increases, due to the disruptions caused by the coronavirus pandemic, says GlobalData.

According to the analytics company, disruption has been most significant in China. Coal production declined by around 6% in the first two months of 2020 as workers could not return to mine sites due to the coronavirus outbreak.

However, by March 4, 83% of China’s coal mining capacity was operational and production is now expected to recover over the remainder of 2020 with a forecast decline of only 1.2% expected by the year-end...

...Over the next four years, production of thermal coal is expected to grow at a compound annual rate of 1.9% to reach 7.6 billion tonnes by 2023, due to increasing demand from India and China.

“Across the globe, compared with other commodities coal production is only expected to be marginally affected by the impact of the coronavirus as thermal coal mines are permitted to operate during lockdowns as they are deemed essential to maintain power supplies,” says Vinneth Bajaj, senior mining analyst at GlobalData.

[charliebrown]

Re: Pipelines getting KILLED!!!!!!!!

Everybody's playing Calvinball now.


For the last 20 years roads are good. Cars are bad. I'm sure I will think of a few more political oxymorons as I lay down to sleep.

Everyone is green until the huge server farms and networks that power their smart phones go dark.