In the American Recovery and Reinvestment Act of 2009 – also known as “The Stimulus Bill” – $787 billion of federal funds were appropriated to boost the U.S. economy out of the Great Recession. Included in that total was $8 billion for the development of high-speed rail (HSR) in the United States. While the U.S. freight rail system is arguably the best in the world, our passenger rail system is anything but that. American transportation culture is rooted in the individual transportation mode, horseback and later, automobiles.
With the unrest in the Middle East and domestic energy policy decisions affecting global energy markets and domestic gas prices, Americans are once again calling for a strong U.S. energy policy to rein in the high gas prices that are eating up more of their families’ monthly budgets and increasing the costs of other consumer goods.
It is not only the potential size of this gigantic gas lode that will make a big difference in the U.S. energy supply, but also the Marcellus Shale’s location, within spitting distance of arguably the most avaricious gas consumers in the nation: New York City, Philadelphia, Washington, D.C., and the whole Northeastern region.
Our nation’s critical infrastructure – energy, transportation and water – is failing. In 2009, the American Society of Civil Engineers (ASCE) awarded it an overall grade of D, and that was likely generous. The consequences of this failure are dire. America’s economy can only grow if our critical infrastructure allows it. Militarily, our nation’s armed forces rely on our infrastructure as part of its increasingly complex and far-flung global supply chains.
The business climate in America is starting to see some major changes as more and more companies are beginning to understand the important correlation between the economy and the environment.
The earthquake and tsunami that devastated Japan on March 11, 2011, permanently disabled the Fukushima Daiichi nuclear plant.
According to some pundits in the days and weeks afterward, the global nuclear industry was bound to be another victim of the disaster.
Since the rash of energy company bankruptcies following the turn of the century, the energy industry has been relatively unaffected by major business failures. The SemGroup bankruptcy roiled oil markets in 2008, Lehman Brothers had some business units in the energy sphere, and ASARCO recently completed a high-profile bankruptcy.
Recent political uproar around the world has driven home the potential liabilities that U.S. construction companies face in pursuing ever-expanding global opportunities. Instances of stranded construction workers and long work stoppages in Libya, Egypt and elsewhere are vivid examples of the risks of commercial building amid nation building.
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Energy and Infrastructure
79 West Monroe St., Suite 400
Chicago, IL 60603
