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$8B Atlantic Coast Pipeline Scrapped After Years of Legal Battles
ENVIRONMENTAL WIN
Madeline Charbonneau
Cheat Sheet Intern
Published Jul. 05, 2020
Dominion Energy and Duke Energy have scrapped plans to build the proposed $8 billion Atlantic Coast Pipeline after years of legal battles and delays.
The move comes less than a month after the U.S. Supreme Court approved a permit that would have allowed the project to move forward.
The 600-mile pipeline, originally proposed in 2014, faced opposition from activists and landowners who argued that it was not a necessary piece of infrastructure and would damage the environment.
Supporters had touted the pipeline as an economic boost. “This announcement reflects the increasing legal uncertainty that overhangs large-scale energy and industrial infrastructure development in the United States,” said Dominion CEO Tom Farrell and Duke CEO Lynn Good in a joint statement. “Until these issues are resolved, the ability to satisfy the country’s energy needs will be significantly challenged.”
The cancellation comes on the same day Berkshire Hathaway announced that it would acquire Dominion’s gas lines in a $9.7 billion deal.
Read it at USA Today
http://www.thedailybeast.com/atlantic-coast-pipeline-scrapped-after-years-of-legal-battles?via=newsletter&source=CSAMedition
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