An oil and gas building spree in the United States might have a serious boomerang effect that could hit the industry as hard as a changing fundamentals landscape hit the coal industry in the 2010s, a report from Global Energy Monitor has warned. According to the report, there is US$232.5 billion worth of new oil and gas pipelines being planned and built right now in North America, with most of this in the United States. This expansion, however, does not rely on an increase in domestic demand for oil and gas. It relies almost exclusively on demand growth in Asia, much like the coal expansion in the 2010s. That, however, went awry, decimating the coal industry. The factors that could ruin the pipeline expansion in the United States include demand patterns in that key Asian market everyone is targeting as well as changing attitudes—and legislation—concerning climate change and the […]