- Williams and partners
- the pipeline that has caused all the controversy
- eight-year controversy
- NYDEC denied the project a water quality permit in 2016
- was to be a new 30-inch, 125-mile pipeline; 650,000 dekatherms of natural gas / day
- natural gas source: the Marcellus
- terminus: "New York"
- some sources suggest one decatherm = 0.172414 boe, if so, this pipeline about 112,000 boepd
- enough is enough: it cost Williams almost $400 million in full-year 2019 earnings
- current infrastructure projects:
- Regional Energy Access
- Leidy South
- Northeast Supply Enhancement
- my only comment: why did it take Williams so long?
- my hunch: this will put pressure on fossil fuel companies to make final investment decisions more quickly (to cut projects if consumers don't want those projects); see link below;
The nearly $1 billion pipeline project was designed to take natural gas from Pennsylvania’s shale gas fields to New York and New England.
It was initially proposed in 2013 at a projected cost of under $700 million. However, delays and legal challenges drove the costs up by nearly 40 percent. The statement to halt investment in the proposed Constitution Pipeline was released by the project’s four partners, The Williams Companies, Cabot Oil and Gas, Alta Gas, and Duke Energy.Governor Cuomo to New Yorkers: let them eat cake. New York is closed to business. Now that Amazon won't be moving to Long Island, the area probably doesn't need all that cheap natural gas anyway.
Most likely to have ripple effects. Link here. As I opined above.
Costs, back-of-the envelope:
- original estimate: $700 million / 125 miles = $5.6 million / mile
- new estimates: $980 million / 125 miles = $7.8 million / mile
- wow, lots of jobs lost
- some regions, pro-business, cheap energy
- some regions, anti-business, expensive energy
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Meanwhile, Back To Cuba
I nearly went to a town hall held by my representative last Thursday to comment on his natural gas position, I saved my sanity and went to a whiskey tasting instead. At this point trying to talk moderate solution based sanity to either side is like yelling into the wind. It will only get worse.
ReplyDeleteI should have saved his Winter Report he put out with some commentary on the nat gas pipeline situation. It was pretty hilarious. Within a paragraph he berated ConEdison for rising energy costs and inability to provide adequate gas. He also championed stopping the pipeline.
I think I get to spend the better part of the next decade being amazed at the stubbornness of both tail ends of the political spectrum. It's so silly, I should just go watch cartoons and stop paying attention.
Agree completely. Increased utility costs will have minimal effects on the upper middle class and the wealthy. But those less fortunate will bear the brunt and will not understand why utility costs are so high.
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