There are a number of reasons for today’s low oil prices. The COVID-19 pandemic drastically brought oil demand down as people started traveling less, and a flood of new supply into the global market from foreign nations like Russia and Saudi Arabia brought prices down even further. The market has started to correct itself, although there is still a long road ahead.

Pipelines are critical for an efficient energy market, and expanded pipeline infrastructure like the Permian Highway Pipeline (PHP) will be a key part of that. Building more pipelines will ensure that resources are safely transported across the entire energy supply chain and will reduce sources of emissions like methane along the way. By connecting fuels to demand centers, pipelines will play a key role in the price recovery, as the oil and natural gas will no longer be “trapped.”