Part 6/7:
This trend is not confined to oil alone. The industry is also witnessing stalled projects across various sectors, including coal export terminals and natural gas pipelines. Muckerman noted the difficulties faced in the Northeast U.S., where energy prices soar due to a lack of adequate distribution networks. Companies looking to invest in this area often find themselves battling against governmental regulations and environmental concerns, leading them to postpone or entirely shelve major projects.
O'Reilly referred to the specific case of Kinder Morgan, which recently shelved several multi-billion dollar projects in the Northeast—illustrating the broader issues at play in energy production and distribution.