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‘Victory for environmental justice’: Activists rejoice after $8bn Atlantic Coast Pipeline NIXED amid long-running legal battle – RT

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Two energy companies behind the controversial 600-mile Atlantic Coast Pipeline slated to run from West Virginia to North Carolina, said they are scrapping the project after it has been on hold for years due to legal challenges.

In a joint statement on Sunday, Dominion Energy and Duke Energy announced that they pull the plug on the project, which was first announced in 2014 and has faced fierce opposition from landowners and environmental activists, arguing that the 600-mile (970km) pipeline would cause irreparable damage to the land and wildlife.

The developers, who argued that the pipeline is a better option environment-wise, since it was set to replace retiring coal-fired power plants with “environmentally superior, lower cost natural gas-fired generation,” have been embroiled in a long-running legal war with those who did not want to settle for second best.




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The US has a lot of natural gas that may have to stay in the ground due to never-ending legal battles to get pipelines built



Activists pointed out that the laying of the pipeline would involve mass removal of trees and damage to mountain slopes in its path, potentially increasing risks of landslides.

In addition to that, opponents of the development cast doubt on the notion that there is a sufficient demand for gas the pipeline was set to transport. 

The developers said that the last straw that forced them to abandon the project was a recent decision of a district court in Montana “overturning long-standing federal permit authority for waterbody and wetland crossings.” The move was backed by an appellate court’s ruling in late May, “indicating an appeal is not likely to be successful.”

The companies said that they believe the Montana court decision is bound to serve as a precedent, prompting more legal woes for the developers.

This new information and litigation risk, among other continuing execution risks, make the project too uncertain to justify investing more shareholder capital

Constant legal wranglings have almost doubled the cost of the mega-project from the original estimate of $4.5 billion – $5 billion to $8 billion. It was already lagging some three and a half years behind the schedule when it was ultimately cancelled on Sunday.

The announcement of the project’s demise has sparked celebrations among its opponents.




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“If anyone still had questions about whether or not the era of fracked gas was over, this should answer them,” Sierra Club Executive Director Michael Brune said.

Today is a historic victory for clean water, the climate, public health, and our communities

In a joint statement with Reverend William Barber II, Former Vice President Al Gore, who has also been an outspoken opponent of the pipeline, denounced the now-defunct project as an embodiment of “the injustice of race, the injustice of ecological devastation, the injustice of poverty.”

“Today we see a victory for environmental justice,” he said.

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U.S. Oil Production To Fall More Than Expected This Year – OilPrice.com

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U.S. Oil Production To Fall More Than Expected This Year | OilPrice.com

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

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    U.S. crude oil production will drop by an average of 990,000 barrels per day, according to the Energy Information Administration, for an average of 11.26 million bpd. That is a far greater loss than the agency expected during its previous forecast made in the July Short Term Energy Outlook

    In July, the EIA had forecast that crude oil production in the United States would fall by an average of 620,000 barrels per day for the full year 2020.

    The caveat? That the August STEO “remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus (COVID-19) continue to evolve,” the EIA warned.

    The assumptions for this month’s STEO were based on macroeconomic forecasts from IHS Markit, which assumes that GDP fell 5.2% in H1 2020, and will rise from Q3 2020 through 2021.

    In addition to the reduced outlook for U.S. oil production, the STEO sees high crude inventory levels and excess production capacity as a drag on oil prices in the coming months.

    The EIA’s estimate for global liquid fuels production came in at an average 91.8 million barrels per day in Q2—8.6 million bpd less than the same period in 2019, driven by production quotas for OPEC and reduced production in the United States due to low oil prices.

    The EIA, however, is expecting U.S. production to average 11.14 barrels per day next year, a small decline than what it was forecasting last month. That is as U.S. oil demand next year is expected to rebound by 1.57 million bpd to 20.03 million bpd.

    By Julianne Geiger for Oilprice.com

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      Former Starbucks employee sues for unpaid OT on behalf of store managers – Business News – Castanet.net

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      A former Starbucks Canada employee is suing the company for unpaid overtime for himself and other store managers.

      Trevor Hopman is the lead plaintiff in a proposed class action that claims Starbucks was wrong to class store managers as exempt from overtime pay for work in excess of 44 hours per week.

      Hopman worked for Starbucks in Toronto from 2010 through 2017 and is making the claim on behalf of all current and former managers at Starbucks-owned stores in Ontario from Oct. 1, 2014 or later.

      The suit, filed Aug. 7 by Toronto-based Goldblatt Partners, asks the court to declare that Starbucks violated Ontario’s Employment Standards Act.

      The claim, which requires court certification to proceed as a class action, seeks $50 million in general damages and $10 million in punitive damages — although it leaves the amounts to the court’s discretion.

      A Starbucks representative says the company is aware of the suit and will respond to its allegations in the course of litigation.

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      Oil Prices Leap Higher On Bullish Inventory Data – OilPrice.com

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      Oil Prices Leap Higher On Bullish Inventory Data | OilPrice.com

      Irina Slav

      Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

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        Crude oil prices got another lift today after the Energy Information Administration reported a crude oil inventory draw of 4.5 million barrels for the week to August 7.

        At 514.1 million barrels, inventories remain above the five-year average for this time of the year despite several hefty weekly draws, including one of 7.4 million barrels for the first week of August. Analysts had expected the authority to report an inventory draw of 3.2 million barrels.

        The EIA report comes on the heels of the American Petroleum Institute’s weekly estimate, which saw inventories had shed 4.4 million barrels in the week to August 7, pushing prices higher.

        In gasoline, the EIA reported an inventory decline of 700,000 barrels for last week, compared with a moderate increase of 419,000 barrels for the previous week. Gasoline production last week increased, to 9.6 million barrels daily, from 9.3 million bpd a week earlier.

        In distillate fuels, the authority estimated an inventory draw of 2.3 million barrels for the week to August 7, which compared with a build of 1.6 million barrels for the previous week, Distillate fuel production stood at an average of 4.8 million bpd last week, compared with 4.9 million bpd a week earlier.

        Distillate fuel inventories have been slower than gasoline ones to come down and they remain high above the seasonal five-year average, Reuters’ John Kemp noted last week. At the time, distillate fuel inventories were close to 180 million barrels, the highest since the early 1980s, and 38 million barrels above the five-year average.

        Amid this buildup of distillates, caused in no small part to the still continuing depression in air travel, refineries processed 14.7 million barrels daily of crude oil last week. This was up slightly on the previous week, when refineries in the U.S. processed 14.6 million barrels of crude daily.

        Brent crude was trading at $45.22 a barrel at the time of writing, with West Texas Intermediate at $42.40 a barrel, both slightly up on Tuesday’s close.

        By Irina Slav for Oilprice.com

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