A new analysis by the U.S. Chamber of Commerce’s Global Energy Institute finds the anti-energy “Keep It in the Ground” movement has prevented at least $91.9 billion in domestic economic activity and eliminated nearly 730,000 job opportunities, Kallanish Energy reports.
In recent years, KIITG activists have attempted to derail energy projects with countless lawsuits, protests and even vandalizing property, with the goal of delaying or killing energy projects, the report says.
“The anti-energy movement’s opposition to vital energy infrastructure comes with a real cost: Lost job opportunities and billions in prevented domestic economic activity,” said Karen Harbert, president and Ceo of the Global Energy Institute, in a statement.
“Unfortunately, a small but vocal group of activists is waging fights against these projects around the nation. Our new report demonstrates just how damaging that is to families, consumers and American workers,” she said.
The report, released Tuesday, attempts to quantify the impacts of delayed and cancelled energy infrastructure projects. Taken together, the $91.9 billion in lost economic opportunity is larger than the economies of 12 states, the report says.
In addition, more than $20 billion in tax revenue has been lost, according to the report.
The economic modeling focused on 15 projects, including pipelines, power plants, transmission lines and export facilities, as well as New York’s statewide ban of hydraulic fracturing, or fracking.
The list of projects included the Constitution Pipeline from Pennsylvania to New York, the Jordan Cove Lng liquefaction/export facility and related pipelines in Oregon, the Keystone XL Pipeline from Montana to Nebraska, the Northern Access Pipeline from Pennsylvania to New York, the Valley Lateral Pipeline in New York and the Atlantic Coast Pipeline from West Virginia to North Carolina.
The report includes a discussion of needed reforms to the permitting process that would help with the expansion and modernization of energy infrastructure, including proposals from the Trump administration and legislation.
The report, “Infrastructure Lost: Why America Cannot Afford to Keep It in the Ground,” is available at: http://globalenergyinstitute.org/infrastructure-lost.
