TC Energy Sells 40% Interest in Columbia Pipeline to Investor GIP
TransCanada Corporation, which renamed itself TC Energy in 2019, bought out/merged in U.S.-based Columbia Pipeline Group (now Columbia Gas Transmission) in 2016 (see TransCanada and Columbia Pipeline Tie the Knot Today). TransCanada paid $13 billion for Columbia, including the assumption of $2.8 billion of debt. Yesterday TC Energy announced it is selling a 40% stake in Columbia for US$3.9 billion (C$5.2 billion) to investment firm Global Infrastructure Partners (GIP). TC will retain majority ownership and operate the Columbia assets, which include 11,899 miles of pipeline extending from New York state to the Midwest and Southeast, along with dozens of storage fields in multiple states.
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A group of Pennsylvania State Senators are (once again) trying to expand the swampy bureaucracy of the state Dept. of Environmental Protection (DEP). A group of six Democrat state senators issued a co-sponsorship memorandum last Thursday to say they want to expand the DEP’s power to reject “facilities such as incinerators, landfills, and sewage plants” based on the premise that such facilities are typically built in communities where there are minorities or poor people–and they are just too poor (or too dumb) to “fight back” against such projects. That is, the DEP can reject anything it wants for “environmental justice” reasons. The very premise of the bill is, itself, racist!
In January 2016, Invenergy announced its intention to build a natural gas-powered electric plant in Elizabeth Township, in Allegheny County, PA (see 
Christopher Lewis, who trades Forex (foreign exchange), calls himself “The Trader Guy.” Lewis, writing for DailyForex, is calling attention to charts that (in his opinion) signal natural gas will “likely” reach the $3/MMBtu level soon. With only one or two brief exceptions, the Henry Hub price has traded below $3 since February. For most of the last five months, we’ve been range-bound, with the price of gas trading between $2 and $2.50/MMBtu. It’s lousy! We have eagerly watched for signs and signals the price would go higher. We notice the odd analyst or trader who predicts it, but nothing seems to come of it. Will this time be different? Is the price ready to break through and stay above $3?
The Bidenistas are coming for ALL of your household appliances. It began with natural gas stoves. It moved to dishwashers. Now its new regulations for water heaters (both electric and gas water heaters). And they’re not done. The Bidenistas are moving forward with rules impacting dozens more appliances, including consumer furnaces, pool pumps, battery chargers, ceiling fans, and dehumidifiers. Let’s not forget coffee pots! These people are out of control.
OTHER U.S. REGIONS: Biden, AOC energy policies cripple Navajo tribe’s economy; NATIONAL: Oil and gas companies would pay more to drill on public lands; INTERNATIONAL: G20 powers fail to agree on fossil fuels.