MSCI Encourages Members To Support U.S. Permitting Legislation

As Connecting the Dots reported last week, a key U.S. Senate committee has advanced legislation that would speed up the permitting process for new energy projects. While this bill has strong support among both Democrats and Republicans, it faces a long road to passage in the upper chamber of the U.S. Congress. In fact, it is unclear whether or not Majority Leader Charles Schumer (D-N.Y.) will even allow a vote on it.

As such, the Metals Service Center Institute and its partners at the Energy Equipment and Infrastructure Alliance (EEIA) are asking interested member company leaders and employees to call their lawmakers in Washington, D.C. to ask that they support this legislation and pressure leaders to schedule a vote in both chambers of Congress on it. The EEIA has created a one-page fact sheet individuals can use to guide their efforts. Click here to view that document.

With prompt action, between now and Sept. 8, 2024 there is a good opportunity to boost its chances for passage of this legislation before the 2024 election.

As a reminder, this bill, introduced by Sens. Joe Manchin (I-W.Va.) and John Barrasso (R-Wy.) and called the Energy Permitting Reform Act of 2024, would:

• Institute a 150-day statute of limitations for lawsuits opposing energy projects and mandate expedited court review of legal challenges;
• Ensure the federal government conduct at least one offshore oil and gas sale and one wind sale annually from 2025 to 2029, with minimum acreage requirements;
• Double production targets for permitting renewable energy projects on federal lands, to 50 gigawatts; and
• Protect grid reliability by requiring the Federal Energy Regulatory Commission and the North American Electric Reliability Corporation to assess future federal regulations that significantly affect power plants and offer formal comments to federal agencies about any effects on electric reliability.