Infrastructure, Energy & Environment
To thrive, the metals industry requires a reliable energy supplyDownload Talking Points
The North American metals industry requires a reliable energy supply and infrastructure system to succeed and thrive. Infrastructure in the United States is crumbling. The dismal state of our roads, bridges, ports and waterways imposes huge costs on employers, especially in the industrial metals sector, and hinders U.S. competitiveness. The United States ranks 11th in the world, behind countries such as the Netherlands, France and Spain, in terms of the overall quality of our infrastructure. Government at all levels and the private sector must work together to rebuild these systems.
As proud stewards of our natural resources, MSCI supports policies that protect our environment and provide a stable energy supply. Today’s innovative technologies allow the United States to explore and produce energy from all sources – coal, nuclear, oil and gas and wind and solar – in an increasingly environmentally friendly way. We support an “all of the above” energy strategy that protects our energy security by expanding domestic energy production to efficiently and affordably deliver power to our nation’s industrial metals industry. We believe prosperity breeds the creation of new, cleaner and less wasteful technologies and strengthens the demand for them. Policies that fuel growth, rather than reactionary and impractical regulations and taxes, are the path to a cleaner, safer environment.
Why it matters
Improved infrastructure and lower, more stable energy prices will make U.S. manufacturers more competitive with their foreign counterparts. In addition, the United States would be less dependent on foreign energy sources, leading to more employment opportunities, higher incomes and better benefits for U.S. workers. Investment in infrastructure, including energy and transportation infrastructure, also fuels job growth in the manufacturing sector. For example, a 2016 IHS Economics study found that construction of natural gas pipelines resulted in nearly 60,000 new manufacturing jobs in 2015 alone. According to a 2017 study by The Boston Consulting Group, a $1 trillion investment in infrastructure would generate approximately 1.6 million new jobs in the United States.
Policymakers must –
- Make new investments to rebuild North American infrastructure and work with the private sector to drive new business investment.
- Establish a national energy policy that produces a steady, reliable and affordable supply of energy, including renewable and non-renewable, from all domestic sources.
- Require a cost-benefit analysis of all new regulations proposed by the Energy Department, Environmental Protection Agency, Army Corps of Engineers and Interior Department.
- Improve transparency in the regulatory process and require involvement from representatives of the industries that will be impacted.
- Reject international climate change agreements that put the United States at a competitive disadvantage.
- Rationalize the permitting requirements and approval process for infrastructure investments, new energy production and transmission facilities.
- Open more federal lands to oil and gas exploration and enhance offshore drilling.
Communications from MSCI:
Coalitions & Partners:
Energy Equipment And Infrastructure Alliance: http://www.eeia.org
Partnership For A Better Energy Future: http://www.betterenergyfuture.org
Related Issues Important to the Industrial Metals Supply Chain
EP regulatory overreach would result in significant domestic job losses, higher energy prices for consumers and lower economic growth in the United States. In recent years, the department has proposed an ozone regulation that was potentially the costliest rule in U.S. history, and a Waters of the United States rule that would have eroded private property rights while. Stricter power plant emissions regulations would threaten the reliability of the U.S. electricity grid. Officials from the EPA have acknowledged that, in some cases, these rules would do little to improve our environment. And because so few developing nations have advanced specific proposals to address their often significant environmental challenges, the United States risks putting its job creators at a significant disadvantage while pollution continues abroad.
The approval of pipeline construction permits should be routine and expeditious. Insufficient pipeline capacity—caused, in part, by delays in permitting for new pipeline construction—contributes to increased energy prices and market volatility. Timely approval of pipeline permits will increase employment opportunities for U.S. workers. The United States also must open more land to energy exploration.
Our nation’s infrastructure is crumbling; the United States ranks 11th in the world, behind countries such as the Netherlands, France, and Switzerland when it comes to the overall quality of our infrastructure. Our broken transportation system hinders the metals industry’s ability to buy, sell and trade. It also reduces employee productivity and increases business costs so U.S. companies are less competitive globally. While competing nations continued to invest in infrastructure, U.S. spending on highways, roads and bridges fell 3.5 percent each year from 2003 to 2012.
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September 21, 2020Make Your Voice Heard On Federal Infrastructure Investment