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One of the unfortunate side effects of Joe Manchin's so-called permitting reform bill crashing and burning (see “Save MVP” Permitting Bill is Dead – Manchin Pulls it From CR), is how it affects one of the intended beneficiaries--Equitrans Midstream, builder of the Mountain Valley Pipeline (MVP). Since prospects for passing the bill began to unravel two weeks ago, Equitrans' stock price is down over 20%, hitting a low of $7.59 per share yesterday. Although the news of permitting reform going down the toilet is not good for MVP, Equitrans maintains the pipeline is still expected to be up and running by the end of next year.
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