CANADIAN MARKET REVIEW

CANADIAN MARKET REVIEW

A Pennsylvania to NY gas pipeline project has been snuffed by regulatory hazards and legal uncertainty.

Since it was proposed in 2013 at a projected cost under USD $700 million, delays and legal challenges have driven the costs up by nearly 40 per cent. After the project won Federal Energy Regulatory Commission approval in 2014, New York regulators refused to issue critical water quality permits, citing concerns about danger to wetlands and stream crossings.

Sounds familiar.

Here is my favorite part:

Riverkeeper and other environmental groups have fought the project in courts.

“Constitution’s investors just confirmed what we have been saying for the past eight years — there is no need for this project,” said Anne Marie Garti, an environmental attorney and founding member of Stop the Pipeline.

Indeed, if you suffocate projects with endless legal battles and regulatory labyrinths, those projects, the viable becomes unviable.

Funny how that works.

Then you can say there is no need for the project, as if you just broke my legs and told me there was no need for me to walk.

This has been the modus operandi of radical environmentalists for many years.

— Continue reading at Global News —