Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Climate activist groups protest in front of the U.S. Supreme Court as the court heard cases on Dominion Energy's proposed $7.5 billion Atlantic Coast Pipeline crossing the Appalachian Trail. Photo: Mark Wilson/Getty Images

Duke Energy and Dominion Energy threw in the towel Sunday on the Atlantic Coast Pipeline, a proposed 600-mile natural gas line from West Virginia to North Carolina.

Why it matters: It ends one of the highest profile battles over fossil fuel infrastructure in recent years, and its demise is a win for the environmental groups that spent years fighting it.

  • It also underscores hurdles facing big pipelines and other projects, despite White House efforts to speed up approvals and scale back environmental reviews.

Catch up fast: Despite a favorable Supreme Court ruling last month, the project faced ongoing legal and permitting battles.

  • The price tag had reached $8 billion — far above initial estimates — and the project had become "too uncertain to justify investing more shareholder capital," the companies said.
  • The cancelation came the same day that Dominion announced sale of its gas transmission and storage assets to Warren Buffett's Berkshire Hathaway in a $10 billion deal.

Between the lines: Here are a few takeaways from the project's demise...

  • Paperwork matters: Reuters' David Gaffen yesterday re-upped his outlet's October 2019 story, which found that administration efforts to speed up permitting for pipelines had "backfired," because they created new legal vulnerabilities for projects already facing activist litigation.
  • States matter: A note from the research firm ClearView Energy Partners says that some states including Virginia — which is on the pipeline route — push policies that favor renewables. They called the cancellation a sign of "subnational greening" that makes it harder to build projects already facing opposition from environmentalists.
  • The 2020 election matters: This project may be dead, but the outcome of November's election will affect the trajectory of others. The Trump administration backed the project in the courts and politically, while Joe Biden would be less favorable to fossil fuel projects (the campaign did not provide comment on this decision).

Go deeper

Ben Geman, author of Generate
Sep 25, 2020 - Politics & Policy

Why ending the filibuster might not guarantee big climate legislation after a blue wave

Illustration: Sarah Grillo/Axios

If Democrats win the Senate and White House, ending the filibuster would lower the huge hurdles before climate legislation. But there could be other knock-on effects.

The intrigue: Big climate legislation would hardly be a guarantee, given resistance among Democrats from fossil fuel-producing states, according to a wide-ranging election look-ahead note from ClearView Energy Partners.

5 hours ago - World

Defense Sec. Austin stresses U.S. commitment to Israel's security amid growing Iran tensions

Issei Kato/Reuters/Bloomberg via Getty Images

Secretary of Defense Lloyd Austin arrived for his first visit in Jerusalem amid nuclear talks in Vienna and growing tensions between Israel and Iran.

Why it matters: Austin met his counterpart Benny Gantz and will meet later with Prime Minister Netanyahu to discuss Iran and regional security issues.

"I was horrified": Leaders respond to footage of Black and Latino Army officer threatened at traffic stop

An Army officer is suing two Virginia police officers after he said they drew their guns and pepper-sprayed him during a traffic stop in December.

Why it matters: Footage of the incident has drawn widespread criticism from leaders and groups in the state. Caron Nazario, who is Black and Latino, is heard saying “I’m honestly afraid to get out," to which a police officer responds “Yeah, you should be," in a video from a body-worn camera.