Sen. McCormick seeks faster energy approvals
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Sen. Dave McCormick, a Republican, introduced a bill late last month to cut costs and speed up production of energy projects across the nation.
Why it matters: Electricity and gas utility prices are rising, and some blame the tepid buildout of power plants as the cause.
The big picture: The Unlock American Energy and Jobs Act seeks to release $1 trillion in infrastructure projects currently tied up in federal permitting, according to McCormick.
- He said if the bill becomes law, it could create $2.4 trillion in economic activity and thousands of new jobs.
What he's saying: "It takes five to six years to get a permit. … This is ridiculous," said McCormick at a roundtable with local labor leaders in Downtown Pittsburgh last week.
Zoom in: The bill would set a one-year deadline on state review of Clean Water Act requirements for energy projects. It would also:
- Speed up approvals and limit veto points for liquid natural gas export projects.
- Limit National Environmental Policy Act lawsuits, set deadlines for resolving such lawsuits, and prevent courts from vacating approvals while legal challenges are pending.
- Extend licensing agreements for nuclear plants from 40 to 60 years since many of them have been operating longer than 40 years already, like the Beaver Valley Power Station.
Between the lines: McCormick has helped broker billions of dollars in energy investment for Pennsylvania. He said energy companies want to invest, and cost isn't the main issue for them; it's how long it takes to get projects approved and completed.
The other side: The bill has a strong focus on speeding up natural gas projects. Environmental groups argue that only stimulating natural gas production would take the focus away from building renewable energy power plants, which advocates say can be built faster and cheaper than fossil fuel and nuclear plants.
The bottom line: The Unlock American Energy and Jobs Act still needs approval in Congress and President Trump's signature to become law.