Report: LNG Development Would Hamper Economic Growth Near Passamaquoddy Bay
An study commissioned by Save Passamaquoddy Bay, a local LNG opposition group, dismisses claims that the proposed LNG import terminals near Passamaquoddy Bay would spur economic growth in the area, and concludes instead that the terminals would hurt the area’s fishing and tourism industry, raise local municipal costs, and decrease property values. The study by Yellow Wood Associates of St. Albans, Vt. was unveiled yesterday at a meeting between state officials and members of Save Passamaquoddy Bay. Downeast LNG president Dean Girdis questioned the study’s objectivity. “I’m not surprised that the study results were negative,” he said. Countering the opposition group, Girdis noted for example that property values around the Cove Point LNG terminal in Maryland have been higher than surrounding areas without industrial development. Read more in today’s Bangor Daily News. The study can be found at Save Passamaquoddy Bay’s website. [Access to archived articles requires a fee.]