Even the cleanest fossil fuel is losing its appeal to rich nations. Just a few years ago, natural gas was hailed as vital for the transition toward an economy that runs on renewable energy. But sentiment is changing and the fuel is going the same way as coal, its dirtier sibling shunned by governments, utilities and investors. The cancellation of the giant Atlantic Coast pipeline in the US and Ireland’s decision to scrap backing for an import terminal this summer are the latest signs that gas is falling out of favor with everyone from regulators to asset managers.
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