Updates
July 8, 2020: owner-operator says the company won't shut down / won't empty DAPL.
Original Post
Back to CBR. Great news for Warren Buffett and the railroads:
I don't recall what I last said about this but I do recall thinking that based on "evidence," the judge had no choice but to make this decision. But, wow, this is huge for Warren Buffett.
To be an energy superpower, U.S. oil and gas requires a suitably gargantuan pipeline network that stretches for millions of miles. The country’s ability to expand that infrastructure is being tested like never before.
In what’s possibly the biggest victory yet for an environmental movement targeting the conduits carrying fossil fuels, Dominion Energy Inc. and its partner Duke Energy Corp. said Sunday they’ll no longer pursue their $8 billion Atlantic Coast natural gas pipeline after years of delays and ballooning costs.
It’s the third such project this year to be sidelined or canceled altogether amid mounting opposition to development of coal, oil and gas. Armed with experienced lawyers and record funding, environmental groups are finding enormous success blocking key pipeline permits in court. The keep-it-in-the-ground movement has increasingly turned its attention to the pipes, rather than the wells themselves, because they require various federal and state permits, which, for the most part, can be more easily litigated.
Texas and exports: looking better and better.
Not looking for a conspiracy here, but every time a judge rules against a pipeline, I cant help but think of Buffett and his lock on CBR.
ReplyDeleteAgree, they are not connected but Buffett can read the tea leaves better than anyone. One of his great traits -- a trait of all successful investors: ignore the nonsense.
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