East Daley Capital Advisors Inc. has taken a decidedly bullish approach toward natural gas prices in its annual “Dirty Little Secrets” midstream report, a result of constraints prompted by the COVID-19 pandemic and in anticipation of the impact of Biden administration energy and climate regulations.

The drawback: the higher price of gas could create an opening for coal to regain market share in power generation.

For midstream companies themselves, the collapse in capex will result in positive cash flow of more than $160 billion for the top 10 North American midstream companies and partnerships over the next four years.

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