U.S. Chamber: Stalled energy projects costing state billions
by For the MBJ
Published: March 20,2011
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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