INSIDER
Duke, Dominion cancel contested Atlantic Coast Pipeline
Read full article: Duke, Dominion cancel contested Atlantic Coast PipelineRICHMOND, Va. The developers of the Atlantic Coast Pipeline announced Sunday that they are canceling the multi-state natural gas project, citing delays and increasing cost uncertainty. This announcement reflects the increasing legal uncertainty that overhangs large-scale energy and industrial infrastructure development in the United States. The project's supporters said the pipeline would create jobs, help aid the transition away from coal and lower energy costs for consumers. Unfortunately, todays announcement detrimentally impacts the Commonwealths access to affordable, reliable energy, the Virginia Chamber of Commerce said in a statement. The assets involved in the sale include more than 7,700 miles of natural gas storage and transmission pipelines and about 900 billion cubic feet of gas storage that Dominion currently operates, the company said.
The market has spoken: Coal is dying
Read full article: The market has spoken: Coal is dyingIn the face of those efforts to rescue coal country, America's aging fleet of coal-fired power plants continues to shrink. Approximately 15% of America's coal fleet has been retired since 2017, the year Trump took office, according to Platts. To get there, PSEG is retiring coal plants, investing heavily in offshore wind and fighting to keep nuclear plants alive. Those trends will only amplify the pain in America's coal country, where employment has plunged. Carbon tax would speed coal's demiseAnother problem for coal: America's existing coal plants are very old, and new ones aren't getting built.