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Tag: LS Power

DEQ to LS Power: Go back to New Jersey and take your jobs with you

By Nick, Section News
Posted on Mon May 04, 2009 at 06:19:44 AM EST
Tags: LS Power, 2010, Cherry, DEQ, regulation, economy, red tape (all tags)

You get a jump from $785 million to $1.32 billion in a day's time and it's only natural that folks start asking questions. If a sudden swell of red ink that severe doesn't make even the casual political observer scratch his proverbial head, well, he's aaaawfully casual.

In my experience, we on the right have a habit of jumping to immediate concepts, hopes and dreams for solutions. It isn't that we're incapable of addressing the entire mess in our minds, it's just that we tend to be semi-neat and orderly. Solve the immediate problem first then move to long-term solutions.

I know that's the way I typically think. When news of the deficit jump broke mid-week I blogged that the legislature should be called to (or convene themselves) an emergency session to immediately right-size the budget.

Four days later and they haven't (why take your problems seriously when there's on-the-clock drinking to be done?) but they should.

And while they dawdle, it is worth taking a look at the bigger picture. We know what has to be done. The Constitution requires a balanced budget so they're going to have to make some tough cuts and they don't have to but WILL use up a lot of one-time cash via the so-called stimulus package. But how did we get here?

Exhibit A: LS Power.

LS Power is a New Jersey based energy company that was preparing to break ground near Midland, Michigan on a project that was expected to create thousands of new jobs... the construction of a new clean-coal power plant.

On Friday they announced they were canceling those plans because of an unfriendly business climate and insanely complicated permitting requirements foisted on them by the Granholm-Cherry administration and their Department of Environmental Quality.

The project was expected to create 1,500 construction jobs, 241 permanent jobs on-site and billions of dollars in regional economic activity.

Read on...

(11 comments, 974 words in story) Full Story