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U.S. Chamber: Stalled energy projects costing state billions

WASHINGTON — As part of its Project No Project initiative, the U.S. Chamber of Commerce released a first-of-its-kind economic study identifying three stalled energy projects in Mississippi that the organization says in aggregate are costing the state’s economy $14.8 billion in GDP and 27,300 jobs a year that could be created during the construction phase of these projects alone.

“Project Denied: The Potential Economic Impact of Permitting Challenges Facing Proposed Energy Projects,” a study by TeleNomic Research, was conducted by Steve Pociask, president of the American Consumer Institute, and Joseph Fuhr, professor of economics at Widener University and Senior Fellow at the American Consumer Institute.

The study estimates the potential loss of investment and jobs in the 351 proposed renewable, coal, natural gas, nuclear, and transmission projects in 49 states, including three in Mississippi, that have been delayed or cancelled due to “Not in My Back Yard” (NIMBY) activism, a broken permitting process, and a system that allows for limitless lawsuits by opponents. The study features a state-by-state analysis that details the economic output and jobs that could be created by acting on these stagnant projects.

The study’s findings are detailed at www.projectnoproject.com, which features an in-depth breakdown of every stalled project.

The full study is available at www.uschamber.com/reports/progress-denied-study-potential-economic-impact-permitting-challenges-facing-proposed-energy/.

Source: U.S. Chamber of Commerce

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  1. Nuclear energy projects don’t save taxpayers money. In most cases nuclear reactors have to be subsidized by taxpayers. When nuclear reactors leak as shown in Japan, it can be expensive, with Japan’s current estimates at $200 Billion and more if one reactor at risk melts down. Too many nuclear reactors are too close to large U.S. populations for example the one 37 miles away from Manhattan near 21 million people. Should that reactor have a serious radiation leak or meltdown it winds might blow radiation fallout into Manhattan. Imagine the potential resulting health costs; what would contaminated Manhattan real estate be worth? How long would affected real estate and industry be contaminated, perhaps decades or centuries? The potential risks of developing more nuclear reactors in the U.S. does not pan out.

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