Dear Section Members:
The articles in this issue of Infrastructure remind me what complicated legal and political issues are raised by the development and financing needs of our infrastructure industries. Intertwining laws and regulations, and tax and accounting policies, are all factors that must be considered as energy and other infrastructure businesses analyze their investment options. Unless these businesses can project construction costs (including tax and accounting treatment) and an accurate timeline to completion, they cannot raise or commit capital, begin construction or hire new workers. Energy companies of all types need regulatory certainty, and for more than a few months at a time.