Biden grants permit for key pipeline in West Virginia

The Biden administration has granted a permit to allow the mountain valley Pipeline to run through the Jefferson National Forest according to a NY Times article.

What: The project is expected to carry gas approximately 300 miles from Marcellus shale fields in West Virginia to Virginia. The pipeline will cover Cover When a trader says he or she is going to "cover," it typically refers to the act of closing out a short position in a security, stock, or forex position. Short selling is a trading strategy where a trader borrows shares or securities and sells them in the market with the expectation that the price will decline. If the price does indeed drop, the trader can buy back the shares at a lower price, return the borrowed shares to the lender, and pocket the difference as profit.To "cover" a short positi When a trader says he or she is going to "cover," it typically refers to the act of closing out a short position in a security, stock, or forex position. Short selling is a trading strategy where a trader borrows shares or securities and sells them in the market with the expectation that the price will decline. If the price does indeed drop, the trader can buy back the shares at a lower price, return the borrowed shares to the lender, and pocket the difference as profit.To "cover" a short positi Read this Term 3.5 miles of Jefferson National Forest, which is located between West Virginia and Virginia. This project, worth $6.6 billion, has been delayed for years due to legal issues and strong opposition from environmentalists, scientists, and many Democrats in Virginia.

Why: The decision is seen as a strategic move by the Biden administration to appease Senator Joe Manchin of West Virginia, a Democrat who strongly supports fossil fuels and is up for potentially challenging re-election next year. Despite President Biden's ambitious climate agenda, he needs the support of Senator Manchin and moderate Republicans to pass legislation that is critical for speeding up the construction of renewable energy projects. The decision also aligns with Biden's recent efforts to support fossil fuels and placate centrists while deflecting Republican criticism about his climate policies undermining American energy security.

Politics matters of course, but moving from extremism is what needs to be done to break the ties that bind.