The latest Front Porch Blog from Appalachian Voices, It’s high time to abandon ship on the Atlantic Coast Pipeline, discusses in detail the mounting evidence for why abandoning the ACP is the prudent course for all – shareholders, ratepayers, impacted communities, and the environment – and why shareholders should be particularly concerned.
The article discusses political barriers, economic reality, and the regulatory outlook, all of which are negative.
The conclusion? “Dominion and Duke have gotten themselves into rough waters. Try as they might, they have never been able to justify the tremendous environmental and social costs of the ACP — nor the project’s economic burden on customers — to regulators or the courts. At this point the companies cannot justify the project to their shareholders either. Hoping that the storm will pass and that the pipeline will move forward is reckless. The required permits may never be granted, the investment may never be recouped, and the demand may never return. Now is the time for these companies to abandon ship. Now is the time to cancel the Atlantic Coast Pipeline.”
Read the full blog post here.