[StBernard] Stalled Energy Projects Costing Louisiana Economy $20.9 billion

[Westley Annis]

Yesterday, the U.S. Chamber released a landmark study on the state specific
impact of stalled energy projects in 49 of the 50 states. In Louisiana, 7
stalled energy projects are costing the state's economy $20.9 billion in GDP
and 40,500 jobs a year that could be created during the construction phase
of these projects alone.

To read more about the specific projects in Louisiana and to read the full
report, click here.
<http://click.uschambersmallbusinessnation.com/t/783314/129533611/3276/0/> 

We'll continue to keep you updated on this important initiative and ways you
can help remove obstacles to get our communities and nation working again. 

Best, 

Bill

From: US Chamber Press 


U.S. Chamber of Commerce Press Release
<http://click.uschambersmallbusinessnation.com/t/783314/129533611/8693/0/> 

FOR IMMEDIATE RELEASE - March 10, 2011 

Contact: Bryan Goettel 202-463-5682


Study: Stalled Energy Projects Costing American Economy $1.1 Trillion and
Nearly Two Million Jobs

'This study should serve as a wake-up call for legislative action to 
improve the permitting process,' Kovacs Says 

WASHINGTON, D.C.-As part of its Project No Project initiative
<http://click.uschambersmallbusinessnation.com/t/783314/129533611/14238/0/>
, the U.S. Chamber of Commerce released a first-of-its-kind economic study
today identifying 351 stalled energy projects nationwide that in aggregate
are costing the American economy $1.1 trillion in GDP and 1.9 million jobs a
year that could be created during the construction phase of these projects
alone.

"This study should serve as a wake-up call for legislative action to improve
the permitting process," said William Kovacs, U.S. Chamber senior vice
president of Environment, Technology and Regulatory Affairs, during today's
unveiling of Project Denied: The Potential Economic Impact of Permitting
Challenges Facing Proposed Energy Projects
<http://click.uschambersmallbusinessnation.com/t/783314/129533611/14239/0/>
. The 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.
"These are projects that would create jobs and give a much-needed boost to
our economy, but with every day that passes, the more expensive the projects
become. In most cases, if the projects are substantially delayed they won't
be built."

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 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
<http://click.uschambersmallbusinessnation.com/t/783314/129533611/3276/0/> ,
which features an in-depth breakdown of every stalled project. 

"In going through the study, the results were simply startling," said Peter
Morici, former chief economist at the International Trade Commission, and
the study's peer reviewer. "We anticipated the impact all the projects
collectively would have on jobs and the economy. But the real surprise was
how positively a state could be affected if it moved forward on just one or
two projects. To my knowledge, there is no database like this anywhere in
the world."

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.

"The numbers in this study tell the story," said Kovacs. "Moving forward on
a significant number of these projects could mean millions of jobs and do
wonders for our economy. With our study, Congress can now point to tangible
data on the regulatory barriers to economic growth. Now is the time to act
to remove unreasonable obstacles and restore balance to a broken process.
It's essential to American jobs and competitiveness."

The full study is available here:
http://www.uschamber.com/reports/progress-denied-study-potential-economic-im
pact-permitting-challenges-facing-proposed-energy
<http://click.uschambersmallbusinessnation.com/t/783314/129533611/14239/0/> 

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#greentape.

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