Stalled energy projects cost American economy $1.1 trillion

The U.S. Chamber of Commerce released a first-of-its-kind economic study 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. 

The study estimates the potential loss of investment and jobs in the 351 proposed solar, 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.