As energy bills increase, the idea of building a new pipeline to deliver natural gas into New England has reentered the political conversation; this idea, which appears straightforward based on classic supply/demand dynamics, misunderstands the market dynamics of pipeline offtake and would actually increase customer costs. In this fact sheet, Acadia Center provides analysis of the obscured costs associated with both building new pipelines and enacting various policy ideas under consideration to enable pipelines to be built.