Moxie is a word that accurately befits Tulsa-based Williams. Through the decades, this pipeline giant has endured its share of financial highs and lows, plummeting stock prices and potential takeovers. But Williams has persevered to emerge stronger than ever. Reese Energy Consulting today is following the latest news from Williams in two separate stories that illustrate the company’s tenacious determination in times good or not so good. After eight years and a four-year, uphill battle to build the 125-mile Constitution Pipeline, which would introduce clean natural gas to numerous counties in N.Y. that currently depend on expensive heating fuel, Williams has walked away. Of note, N.Y. consumers pay the nation’s highest rates for gas delivered from Canada and the Gulf. The state’s 2015 Energy Plan embraces everything—anything—but fossil fuels yet ranks as the fourth-largest consumer of gas. After hundreds of millions of dollars in write-downs by the pipeline’s partners to fund enormous legal challenges, the time finally came to let go—not in surrender but in the name of smart business. Stay tuned for story number two on Friday.
Posted on February 26, 2020