- Kinder Morgan (KMI +3.2%) CEO Steven Kean warns that environmental groups and the media are overplaying the capabilities of wind farms and solar energy in powering U.S. energy needs.
- The CEO notes that wind turbines and solar panels rely on the weather to generate electricity, which has caused problems for grid operators in areas such as California and Hawaii with high renewable penetration, and says natural gas is needed to back up renewable sources and provide a steady flow of power as more and more coal plants close.
- Environmental groups have become increasingly litigious in fighting pipeline projects, which has meant delays in getting projects built, Kean says.