US midstream faces challenges from politics, pandemic

The presidential election is over, and the results are being certified. President Donald Trump may keep contesting votes in court, but we're expecting the beginning of the Biden administration come January. Today we look at the state of the midstream oil sector amid an ongoing pandemic and an upcoming Democratic White House that won't be as friendly toward putting new pipe in the ground. The never-ending fight over the Keystone XL pipeline hangs in the balance, as does the fate of the 3-year-old Dakota Access Pipeline that's fighting for its life in court. But, in much of the continent, the industry is overbuilt with weaker global crude demand and falling US oil exports. We spoke with Katie Bays, managing director of FiscalNote, about what the midstream sector should expect in 2021 and beyond concerning regulations, pending projects, M&A and more.