ESG Intern

Public hearing, petition set for public input on Lowcountry data centers. Bluffton Today Sept. 8, 2026, 5:02 a.m. ET * Environmental groups are urging South Carolina residents to oppose a proposed "digital infrastructure overlay" in Colleton County. * Opponents fear the measure could allow data center development without public notice, despite a recent six-month moratorium. * A public hearing on the matter is scheduled for September 14 in Walterboro. * Critics are concerned the overlay could lead to polluting power plants and data centers in rural areas. Southern environmental groups are encouraging South Carolina residents to speak out against proposed data centers in our area and a public opportunity is scheduled for mid-September in Colleton County. According to Colleton County officials, on Aug. 10 the Colleton Co. Planning Commission and the Colleton Co. Council approved the first reading by title only on an ordinance related to a "digital infrastructure overlay." Despite a six-month moratorium on data centers recently approved by the C.C. Council, this overlay could allow for changes to the comprehensive plan and zoning ordinance that regulates proposed data centers in that county. Data center opponents and environmental groups fear that this overlay could allow data center development to be approved without any notice to the public and no public vote by a board or commission, and describe the measure as "underhanded tactics" to enable data center development directly contradicting the six-month moratorium passed in July. The C.C. Council has scheduled a public hearing on the matter set for Monday, Sept. 14 at 5:30 p.m. in Council Chambers (109 Benson Street, Walterboro) and the Coastal Conservation League (CCL) and the Southern Environmental Law Center (SELC) are encouraging the public to attend. "If this zoning overlay passes, data centers could be approved without any notice to the public and no public vote by a board or commission," claimed the CCL in a Sept. 2 statement. "The overlay could green light the largest data center in South Carolina, a one-gigawatt facility that would use nearly as much electricity as one million homes. The zoning overlay also allows for on-site energy generation, meaning polluting 'popup power plants' could be built alongside data centers in vulnerable rural areas. This is our chance to make our voices heard, as they are meant to be. We need transparency and accountability from our representatives, and we need them to do what's right by protecting our natural and rural landscapes." The SELC has also issued a statement: "The proposed data center policy for Colleton County as it is currently written is highly alarming," said Robby Maynor, SELC Policy Advocate. "First and foremost, it is in direct conflict with the six-month moratorium on data centers the county established in early July. Now, one month in, they have sprung these proposals on the community with very little notice, and no opportunity for public comments or feedback." "As it is currently written," stated Maynor, "The new data center overlay could be applied to Rural Development districts (RD-1 and RD-2). According to the Colleton County comprehensive plan, 'The county is primarily zoned for Rural Development, which covers 72.8% of the land area.' That means that this policy would allow data centers to be built on the vast majority of land in the county. Further, the data center overlay also explicitly allows onsite natural gas power plants to serve the data centers, which create significant air pollution. Meanwhile, Kinder Morgan is proposing to build a major interstate gas pipeline through Colleton County. While it would serve the Canadys facility, it would also bring additional gas supply into the area. Our concern is that this zoning policy for data centers, especially considering the proposed Kinder Morgan pipeline, could lead to rural Colleton County becoming a hotbed for new polluting data center development." A representative for the C.C. Council has not responded to a request for comment from any council member. A petition has been organized by the CCL, who is asking both Colleton County residents and anyone who enjoys the "natural gems" of the ACE Basin to consider signing it. The petion can be found here: New/Mode | Make your voice impossible to ignore

Daily Comment (august 11, 2026). by patrick fearon-hernandez, CFA, and thomas wash. [Posted: 9:30 AM ET] | PDF Its Comment today opens with a short update on the conflict in Iran. Confluence Investment Management LLC next review several other international and US developments that could affect the financial markets today, including growing economic disruptions in Germany due to Europe's recent heatwaves and drought and another big artificial intelligence funding deal that will likely further raise concerns about circular financial deals in the sector. United States-Israel-Iran: Global oil prices jumped more than 3% earlier today on the news of fresh Iranian demands on the US and new attacks on shipping in the Strait of Hormuz, which Confluence Investment Management LLC described in its Comment yesterday. However, prices have since retreated and are now up only slightly, with near Brent futures prices essentially flat at $87.75 per barrel. Germany: In an emergency move to soften the trade disruption caused by historically low water levels on the Rhine River, several German states have suspended their bans on Sunday trucking. Meanwhile, shipping rates have surged. As parts of Europe face their fifth heat wave of the year in the coming days, some officials fear the Rhine will get so low that it will be unnavigable along its entire length, shutting in much of Germany's industrial economy. Chile: The Chilean government yesterday said it will allow state-owned copper giant Codelco to retain 100% of its profits this year, up from about 30% in recent years. The move aims to help Codelco handle its enormous debt burden, which has grown along with the firm's massive capital investments to keep up production levels. The firm's investment program is seen as vital to solving a massive projected shortfall in global copper production by 2040, even as electrification and data centers boost the demand for electricity. Japan: In foreign exchange markets yesterday, the yen depreciated about 1% to more than 159 JPY per dollar, reversing about half its appreciation after the joint US-Japan intervention on July 31. The currency is trading roughly flat so far this morning, but the renewed depreciation is raising concern that it will continue to lose value until the Federal Reserve agrees to loosen its internal rules for currency operations, which may be necessary to increase the US's intervention firepower. Singapore: The city-state's statistical agency said second-quarter gross domestic product was up a strong 5.9% from the same period one year earlier, almost matching the increase in the year to the first quarter. In response, the Ministry of Trade and Investment raised its full-year growth outlook to a range of 4.5% to 5.5%. The stronger-than-expected GDP growth reflects less disruption than expected in the global energy market because of the Iran war and stimulus from the global AI boom. China: The People's Bank of China last night appointed German financial giant Deutsche Bank to be its first European clearing house for renminbi as it seeks to increase international usage of the currency. Deutsche will be the first non-Chinese bank in Europe to be allowed to clear and settle renminbi transactions, along with the local branches of China's major state-owned banks. That should give Deutsche an improved ability to facilitate trade, treasury, and investment activity between Europe and China, despite the growing threat of new bilateral trade barriers. United States-China: An analysis posted yesterday said Chinese artificial-intelligence developers still prefer to train their large language models on processors from US chip giant Nvidia, despite Beijing's pressure for them to use China's own rapidly improving chips. According to the report, the main hurdle is that shifting to Chinese chips requires difficult engineering and software changes. * As a result, the US government still likely has geopolitical leverage over China to the extent that it's willing to keep or tighten its current restrictions on exporting Nvidia chips. * Of course, that means Nvidia and other US tech firms are still at risk of sudden trade restrictions that could adversely affect their businesses. US Artificial Intelligence Industry: AI processor giant Nvidia late yesterday confirmed it is partnering with investment firms Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to assemble more than $500 billion in loans at "attractive rates" for "the build-out of AI infrastructure over time." The announcement is likely to rekindle concerns about circular financing deals in the AI space, which could lead to financial contagion if a major firm related to AI runs into problems. A key source of such problems could be a competitive threat from China. US Energy Industry: Refiner Phillips 66 and two partners, including refiner HF Sinclair and pipeline operator Kinder Morgan, today said they have agreed to build a 900-mile pipeline to carry gasoline, jet fuel and diesel from the Texas Panhandle to Arizona and California. With a capacity of 230,000 barrels per day, the pipeline aims to help bring down California's sky-high fuel prices, which in part reflect its loss of petroleum imports and refineries over the years.

Phillips 66, Kinder Morgan and HF Sinclair announce FID for Western Gateway refined products pipeline. 8/11/2026 12:00:00 PM Phillips 66, Kinder Morgan, Inc. and HF Sinclair Corporation announced they have finalized a joint venture agreement and made a final investment decision to move forward with the proposed Western Gateway Pipeline system (Western Gateway). Under the joint venture, Phillips 66, Kinder Morgan and HF Sinclair will own 49.9%, 35.1% and 15% of the system, respectively. "The final investment decision reflects the strength of this industry partnership. By combining the capabilities of Phillips 66, Kinder Morgan and HF Sinclair, Western Gateway is expected to strengthen fuel supply reliability and deliver a more cost-effective, resilient path for growing markets across the West," said Phillips 66 Chairman and CEO Mark Lashier. "This project will connect our Central Corridor and Gulf Coast refining assets to our West Coast and Southwest Marketing assets and demonstrates the value of our integrated business model and the opportunities it creates." Kinder Morgan CEO Kim Dang added, "This project brings together strategic supply access, existing infrastructure and experienced operators to improve affordability and assurance of supply for customers in the Western United States. Kinder Morgan is proud to contribute its long-standing presence and decades of experience safely and reliably serving the region's energy needs. We expect to earn attractive returns on our investment based on the incremental project earnings above those of our contributed assets." "We believe in the merits of Western Gateway and are proud to be a part of such a transformational endeavor shaping the fuels markets of the West," said Franklin Myers, CEO, HF Sinclair. Western Gateway is a proposed 1,300-mile refined products pipeline system that would create a new fuel supply path from St. Louis, Missouri, and expanded Gulf Coast origin points to Arizona and California. With a design capacity of 230,000 barrels per day, the project is also being developed to allow for future expansion with limited capital and no new pipe necessary as future demand requires. The project will include: * Approximately 900-mile new-build 20-inch and 24-inch pipeline from Borger, Texas, to Phoenix, Arizona. Phillips 66 will construct and operate the new-build pipeline. * Kinder Morgan's contribution of its existing SFPP East Line pipeline from El Paso, Texas to Phoenix and Tucson, Arizona, and its SFPP West Line pipeline from Colton, California, to Phoenix, which would be reversed to move product east to west into California. Kinder Morgan will continue to operate those pipelines. * Supply to Western Gateway would also be supported by Phillips 66's Gold Pipeline, which will connect to the Explorer Pipeline. The Gold Pipeline would be reversed to allow refined products to flow toward Borger. The project's enterprise value is approximately $5 billion. Upon completion of the new build pipeline from Borger into Phoenix, Kinder Morgan's existing SFPP East Line and West Line assets would be contributed to the joint venture at a value of approximately $1.5 billion. Based on the approximately $5 billion enterprise value, Kinder Morgan will also make cash contributions of approximately $250 million. Phillips 66 would make cash contributions of approximately $2.5 billion, and HF Sinclair would make cash contributions of approximately $750 million to the project. The new system is underpinned by primarily 10-year, take-or-pay contracts. It is expected that the midstream project will generate attractive returns consistent with the high-quality, long-term contracted volumes that underpin the project. The Western Gateway project is targeting completion in 2029, subject to the receipt of all permits and regulatory approvals.