Understanding the Economic Impacts of CO2 Pipelines
“There is a long tradition of industry proponents overselling
the economic benefits of pipelines by paying for economic impact studies.”
- Dr. Silvia Secchi, Natural Resources Economist, University of Iowa
When government subsidies are on the table, there are real financial incentives for companies to paint a rosy picture of the future benefits of their projects. Unfortunately, the unreasonable assumptions, too often baked into the economic forecasts these companies choose to publicize, produce what Dr. Secchi and other researchers have called “mischievous results” for the communities that host pipeline projects and must live with their impacts long after construction ends
Join us for another in our series of educational, free webinars!
Economic Boon, or Boondoggle?
Thursday August 25th, 7 to 8 pm
Dr. Silvia Secchi, Natural Resources Economist
University of Iowa
What You Can Expect
Dr. Secchi’s recent work on pipeline economics builds on more than 25 years of academic research in agricultural and natural resource economics, including almost 10 in Southern Illinois. Secchi has devoted her career to understanding and supporting the longevity of communities like ours.
Using case studies, Dr. Secchi will discuss how it is not uncommon for companies to hire consultants to prepare economic reports that are flattering to their proposals. Rarely are these studies peer reviewed or fully substantiated. Many include fine print disclaimers by the consultant such as: “Any third parties reading the report should be aware that the report is subject to limitations, and the scope of the report was not designed for use or reliance by third parties for investment purposes or any other purpose.”
It makes sense for communities and their elected officials – including county and township boards – to seek opportunities for economic growth. In a changing economy, heartland communities must adapt, and that means exploring new directions and considering emerging opportunities. But we need to understand the real likely impacts of new development proposals using evidence and independent analysis, not sales pitches.
This webinar is for local elected officials, community leaders and members of the general public who will live with the impacts of CO2 pipelines should they be approved.