Strome Business Minute With Dr. Jeff Tanner

Dominion Energy sold its gas pipeline business to Berkshire Hathaway, intending to focus on regulated energy lines in gas and electricity. The deal cleans up a strained balance sheet and also means the end of the Atlantic Coast Pipeline. The problem is that pipeline is needed to prevent lack of supply during periods of high use. Our naval bases bear the brunt because they’re the first to lose access during peak demand so some assets may leave for more stable supply and recruiting new ones is now less likely. The pipeline is also needed to attract and retain businesses. As a low-cost cleaner burning energy source, the gas would also offset the higher cost of wind and solar energy, for a competitive average cost. The stock fell ten percent on the news but will likely rebound as the investor mix changes. This has been Strome Business Minute, presented by the Strome College of Business, Old Dominion University.