Protecting endangered species likely costs the economy hundreds of billions of dollars more than the federal government’s official estimates, according to a new study released Tuesday, the Washington Examiner has reported.
The libertarian think tank Competitive Enterprise Institute (CEI), which conducted the study, explained that the government does not factor in broader economic cost, such as lost investment opportunities for energy development.
The study stressed that "The economic impact of the Endangered Species Act (ESA) is so large that states often impose regulations and management regimes as part of an effort to prevent species from being added to the endangered species list," citing as an example several western states which negotiated with the federal government to prevent an endangered listing for the chicken-sized sage grouse, which would have cost an estimated $5.6 billion in annual economic output.
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