Broadwater's $14.8 Billion in Energy Savings Versus Long Island Sound's $55 Billion for the Local Economy: Which Do You Choose?
And now we also know, from LIPA's report on the economics of Broadwater's proposed LNG terminal, that if its built in the middle of the Sound it was reduce energy costs by $14,8 billion over 10 years (a report that was released, as Bryan Brown pointed out, "only 18 months later than they said it would be available.") LIPA's press release explains it this way:
- Expressed in current dollars, the total economic value of the project in terms of reduced energy costs could be $14.8 billion over 10 years.
- Of that $14.8 billion, New York City energy users could derive $6.3 billion in benefits; energy consumers in the rest of New York could see $5.8 billion in savings; and Long Island’s natural gas and electric consumers could get only $2.7 billion in benefits.
How's that for a trade-off?