(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Just last month Preston noted that a debt ceiling agreement between the White House and House Republicans was reached and included a specific approval for the completion of the Mountain Valley Pipeline. After the bill’s enactment, the government and Equitrans Midstream asked the court to dismiss two pending lawsuits against the pipeline. But on July 11 the Wall Street Journal reported that a federal court in Virginia ordered a pause on construction of the project because environmental groups argued that the law violated the Constitution’s separation of powers, in effect granting the legislative branch of government the power that should belong to the court system. Equitrans has since asked the Supreme Court to overturn the lower court’s ruling that halted construction. That is not the only pipeline that continues to have troubles. It is well known that developers, affected landowners, and others have been at odds regarding the use of eminent domain for two high profile carbon capture pipelines. In an article in the South Dakota Searchlight, it is noted that the diverse group of opponents to the use of eminent domain largely agree on one thing. Unlike water and natural gas pipelines, electrical transmission lines, and other projects that have used eminent domain to gain access to land, a liquified carbon dioxide pipeline would not deliver a product needed by the general public. Therefore, opponents say, carbon pipeline projects should not be allowed to use eminent domain to access land against a landowner’s will. Trade Updates:✓ The US ITA has issued preliminary results of an anti-dumping duty administrative review in the case of large diameter welded pipe from Greece. The rate for Corinth Pipeworks will move to 6.95% from 41.04% if confirmed. ✓ The US ITA has issued final results of an antidumping duty administrative review in the case of welded line pipe from Korea. The rate for NEXTEEL Co., SeAH Steel, and 29 other companies not selected for individual reviews moved to 2.38%, 4.23%, and 3.27% respectively from 1.73%, 0.0%, and 1.73%.
Preston Pipe Report – July 2023
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com