ISU economist doubts study praising economic benefits of proposed oil pipeline

[cyberswede]

CEDAR RAPIDS — An Iowa State University economist said he is “very skeptical” of an industry study released on Wednesday touting more than $1 billion in economic benefits and thousands of jobs for Iowa from a crude oil pipeline proposed to slice through part of the state.

Dave Swenson, a scientist in the ISU economics department, questioned the study’s projections for jobs, financial output and indirect benefits for supporting industries, such as durable good suppliers.

“My argument, just like my research has shown most notably in the renewable energy industry, is these types of estimates are typically much higher than careful analysis or reality can confirm,” Swenson said.

The economic and fiscal impact study was prepared by Strategic Economics Group for Dakota Access LLC. Dakota is owned by Dallas-based Energy Transfer Partners, which is proposing the 1,100-mile-long pipeline from the Bakken supply area in North Dakota to Pakota, Ill., including 343 miles cutting diagonally across 17 Iowa counties.

Read more at http://kcrg.com/subject/news/business/isu-economist-doubts-study-praising-economic-benefits-of-proposed-oil-pipeline-20141113#i5giLdtV6mSlefHw.99

Note that it's an "industry study" that claims economic benefits.

[progressoid]

1. Oh, what does he know. He's one of them elite egghead professors.

I'm gonna trust the industry study. I'm sure they wouldn't lie to us.

[rurallib]

2. Whenever I hear of a new oil this or a coal that I wonder

first if there is any real study on the environmental impact done? And is any study ever done that would compare it to the impact of a comparably performing sustainable energy source such as solar, wind, wave etc., etc.

Then when the highly inflated jobs predictions are thrown out there are there again any studies that compare those to jobs created by comparable solar, wind etc.?

I would suggest there should be a governmental agency funded by taxpayer dollars to do these comparisons