Consumer Energy Alliance sponsored study finds the Gulf Coast Pipeline left Oklahoma and Texas with over $5.7 billion in economic activity.
“We still have a very anemic and weak economy, and we have folks that are fighting like hell not to have a project like this,” said Michael Whatley, executive vice president of CEA.” – E&E News, June 25, 2014
In Oklahoma, the report says, TransCanada’s spending boosted economic activity by $2.1 billion, and in Texas, the project contributed $3.6 billion to the economy. They say the final phase could similarly have big economic benefits to communities along the route.” – The Houston Chronicle, June 25, 2014
“Local restaurants, hotels and businesses experienced a significant boost,” the report prepared by the Maguire Energy Institute at Southern Methodist University says. “Business owners in Texas and Oklahoma reported large increases in volume due to the construction of the pipeline.” – The Oklahoman, June 25, 2014
“These are real numbers,” Michael Whatley, the group’s executive vice president, said in an interview with FoxNews.com. “What it shows is the construction of the southern half has been immensely helpful and the economic impacts in those counties are very real.” – Fox News Channel, June 29, 2014
7 Things You Should Know from the Gulf Coast Pipeline study:
- TransCanada’s $2.3 billion infrastructure investment over 17 months turned into $5.7 billion in economic activity for Texas and Oklahoma (Texas: $3.6 billion, Oklahoma: $2.1 billion).
- The economic activity from Gulf Coast construction supported $1.04 million in labor income in Oklahoma and $1.7 million in Texas.
- 50 contractors located in 19 states were utilized to provide parts and services during construction.
- A locally owned Texas small business provided 30,000 pounds of ice a week to construction workers to keep them cool and hydrated.
- Construction required 11 million hours of labor from 4,844 construction workers, heavy equipment operators, welders, laborers, transportation operators, environment, safety and quality control inspectors and supervisory personnel.
- In Texas, Delta and Wood counties saw over 20% of personal income stem from Gulf Coast Pipeline construction. In Oklahoma, seven of the eight counties saw more than 20% of their personal income derive from pipeline driven economic activity.
- The United States lacks the necessary pipeline infrastructure to keep pace with energy development happening throughout North America.