Letter to Congress on Project No Project
TO THE MEMBERS OF THE UNITED STATES CONGRESS:
The U.S. Chamber of Commerce, the world’s largest business federation representing the interests of more than three million businesses and organizations of every size, sector, and region, is pleased to provide you with a first-of-its-kind economic study identifying 351 stalled energy projects nationwide and the potential economic value and job creation that could occur if the projects were enabled to move forward.
Progress Denied: The Potential Economic Impact of Permitting Challenges Facing Proposed Energy Projects, produced by Steve Pociask of TeleNomic Research, LLC and Joseph P. Fuhr, Jr. of Widener University, estimates the potential loss of investment and jobs in the 351 proposed renewable, coal, natural gas, nuclear, and transmission projects in 49 states 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 findings are detailed on the user-friendly site www.projectnoproject.com, which features an in-depth breakdown of every stalled project.
Among the notable findings of the study is the fact that almost half of the projects identified in the study are renewable energy projects. Other highlights include:
Investment Phase – Planning and construction of the study’s projects would generate $577 billion in direct investment and would result in an approximately $1.1 trillion increase in U.S. Gross Domestic Product (GDP). An estimated 1.9 million jobs would be required during each year of construction.
Operations Phase – Operation of the study’s projects would generate $99 billion in direct annual output and would yield $145 billion in increased GDP annually. An estimated average of 791,200 jobs would be created per year of operation.
- Total Benefits – If constructed and operated for twenty years, the study estimates a total benefit of $3.4 trillion in GDP, including $1.4 trillion in employment earnings and an additional one million jobs per year.
The Chamber recognizes that moving forward on all the projects is highly unlikely. To address that, the study includes a sensitivity analysis, which examines the jobs and economic data if only some projects were approved. For instance, Pociask and Fuhr estimate that the construction of only the largest project in each state would generate $449 billion in economic value and 572,000 annual jobs.
The full study is available at http://www.uschamber.com/reports/progress-denied-study-potential-economic-impact-permitting-challenges-facing-proposed-energy.
If you’d like to join the discussion via Twitter, the hash tag is #greentape.
R. Bruce Josten