It’s a complicated time to build a new oil or gas pipeline in the U.S. While the fossil fuel industry continues to see healthy demand and profits amid skyrocketing gasoline prices and war in Ukraine, construction costs are rising and stricter environmental regulations are on the horizon as pressure to transition to renewable energy grows.
Two widely publicized pipeline projects illustrate this trend. Last year, Calgary, Alberta-based Enbridge completed its 1,097-mile-long Line 3 replacement, which carries oil from Superior, Wisconsin, to Edmonton, Alberta.
