COVERAGE AREA and macrothesis

Recent – and dramatic – market shifts require new strategies from firms responsible for moving energy resources from increasingly prolific supply sources to increasingly dynamic demand centers in the U.S. and overseas. At the same time, environmentalists hoping to disconnect fossil fuel production from downstream markets have intensified their scrutiny of pipelines, ports, rails and shipping. Against a backdrop of persistently low interest rates and increasing public concern regarding the structural integrity and safety of transportation infrastructure, these trends force the energy midstream to operate within narrow financial and practical margins. Our energy transportation coverage combines ongoing assessments of rates of return with deep dives into critical issues, such as cross-border pipelines and fugitive emissions. In addition, our monthly Regulated Energy Playbook for utility investors outlines key themes, examines recent legislative, regulatory and judicial developments and presents forward-looking assessments of coming events.