On April 20, 2020, Virginia Mercury featured a guest column by our colleague, Tom Hadwin. Hadwin, a member of the Allegheny-Blue Ridge Alliance (ABRA) Board who lives in Waynesboro, is a former utility executive at Consumers Energy in Michigan and New York State Electric and Gas. His column, “The Atlantic Coast Pipeline is looking like a riskier investment every day,” is an excellent explanation of why the Atlantic Coast Pipeline project should not proceed.
Hadwin’s article clearly illustrates No Demand, No Need, the top reason in Friends of Nelson’s Ten Reason’s to Oppose the ACP.
For additional work by Hadwin see his 2017 video, In the Path of the Pipeline: Tom Hadwin, Demand vs Need, and his January 2020 report, Why Support for the Atlantic Coast Pipeline Adds Risks to Shareholders and Ratepayers.
From Allegheny-Blue Ridge Alliance’s ABRA Update #270, April 2, 2020
A webinar co-hosted by Reuters Events and Petrochemical Update will be held Thursday, April 9, 2020, at 10 am (EDT) to explore the impact the short and long-term impact of the COVID-19 pandemic on the gas power industry. The hour-long session will feature assessments by Jim Hempstead, Managing Director for Moody’s Investors Service, and Tom Sanzillo, Director of Finance for Institute for Energy Economics and Financial Analysis. To register for the webinar, click here.
From Allegheny-Blue Ridge Alliance ABRA Update #268, March 19, 2020:
Growing speculation about a possible economic recession triggered by the COVID-19 pandemic has begun to raise questions about the impact on the natural gas market. A March 9, 2020, commentary by Andrew Bradford, CEO of BTU Analytics, notes that declines in natural gas demand in 2020 could decline by as much as 5%, or 4.2 billion cubic feet per day. Continuing, he says:
“Considering the US gas market was already expected to be long supply following a weak winter 2019-2020, an additional 4.2 Bcf/d is a lot of length to manage into an already long summer gas market. Add in an oversupplied global LNG market and the US gas market could be further awash in supply if demand falters. While US operators are slashing CAPEX (capital expenditures) in the face of falling oil prices, the risk of demand shocks to the system may overwhelm the CAPEX declines.”
A new report from As You Sow, Natural Gas: A Bridge to Climate Breakdown, informs investors about the evolving risks associated with the use of natural gas within the power sector.
At a time when investors are paying increasing attention to power utilities’ exposure and contribution to climate change impacts, natural gas infrastructure build-out is expanding rapidly in the United States. As coal’s inevitable decline within the energy system continues, natural gas, which is largely replacing it, is a growing source of climate concern. In isolation, risks to future cash flow for individual projects may seem minimal, but examination in aggregate reveals a different picture – that investment in new natural gas infrastructure is incompatible with long-term shareholder and societal well-being.
Burning the Bridge: the Story of the Mountain Valley Pipeline is an excellent 6-minute video about pipeline projects produced by two Blacksburg high school students. Watch it, vote for it (through February 29), and share it.
An excellent compilation of information by Mothers Out Front!
From the vantage point of Norfolk and Hampton Roads, Mothers Out Front presents a full and fully documented case against the Atlantic Coast and Mountain Valley fracked gas pipelines and their effects.
They say, “We believe that the construction of the Atlantic Coast Pipeline (ACP) and Mountain Valley Pipeline (MVP) is unnecessary and will cause serious, lasting and expensive harm to America’s public health, economy, and environment. It seems shortsighted to build pipelines designed to carry fossil fuels, with a cost that customers will bear for over 40 years, when it is likely that 10 years from now those fossil fuels will no longer be used or wanted. This is akin to buying typewriters as computers were developed, or buying Blockbuster stock as Netflix took off.”
They document pipeline effects and explain in detail why Mothers Up Front opposes new local or intrastate natural gas pipelines. They provide a detailed timeline indicating ways “the affected states are starting to realize that these pipelines are not in their best interests”
They state, “One fundamental issue is that the ACP and MVP pipelines are not necessary — existing pipelines are adequate to serve customers for the projected future,” and provide an extensive listing of a wide variety of in-depth resources as background material.
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