Critics Take Issue With Economic Impact Report on Long Beach Terminal Proposal
A report released yesterday by Sound Energy Solutions says that the company’s LNG terminal proposed for the Port of Long Beach would bring substantial economic benefits to the city, including $10.3 million in city tax revenue and approximately $8 million per year in California income taxes. However, the report prompted criticism from Christopher Garner, the director of Long Beach Gas & Oil Department, who says that Sound Energy Solutions’ proposal does not offer sufficient benefits to the Long Beach community. “From day one of discussions, SES has been told over and over again that their project needs to provide significant value to the residents of Long Beach through natural gas price discounts and that the city wants to see an ongoing revenue stream to the city’s general fund,” Garner said. City officials argue that any economic gains Long Beach would receive from the terminal pale in comparison to the company’s expected profits. Read more in today’s Long Beach Press Telegram. [This article is no longer available online.]