Jeff Crank Advocates for Permitting Reform with the SPEED Act to Boost American Energy

The Broken Permitting System

• 💡 The current American permitting system is described as broken, leading to an estimated $1.5 trillion in economic value tied up in pending projects.
• 💰 This backlog costs the economy approximately $140 billion annually in lost growth.
• ⚠️ The system is criticized for rewarding bad actors driven by ideology rather than legitimate concerns, with endless litigation being the primary obstacle.

The SPEED Act Reforms

• 🎯 The SPEED Act is presented as a common-sense reform aimed at addressing these issues.
• ⏱️ Key provisions include limiting judicial review under NEPA to 150 days.
• 🗣️ It directs stakeholders to engage during the public comment process and tightens the scope of review to focus on expected impacts.

Meeting Future Energy Demand

• 📈 With energy demand projected to grow by 50% by 2050, the current permitting process is insufficient to meet this demand.
• 🚀 Permitting reform is framed as essential to unleash American energy and the American economy, allowing the country to build and produce energy again.
• 🌍 The bill aims to prevent jobs and investment from moving overseas due to these delays.