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Land of Opportunity? (Editorial)

2 min read

Arkansas’ onetime motto “Land of Opportunity,” adopted in 1953, gave way officially to the “Natural State” in 1995. “Land of Opportunity” fell victim to the popularity of the “Natural State,” promoted by Parks & Tourism beginning in the mid-1980s, according to the indispensable “Encyclopedia of Arkansas History & Culture.”

The beauty of Arkansas is obvious. The opportunity available in Arkansas? Not so much.

Look, the state has birthed some of the greatest entrepreneurs and entrepreneurial enterprises the world has seen. That’s not hyperbole. But with median household income of $40,760, Arkansas ranks third poorest in the U.S., behind Louisiana and Mississippi, a ranking little changed for decades.

Now the EPA is proposing that Arkansas reduce its carbon emissions by 44 percent by the year 2030, suggesting that one of the ways to do that is by increasing its use of renewable energy resources or by increasing the efficiency of its existing coal-fired power plants. Coincidentally — or not — two facilities are planned for Pine Bluff and Monticello (cities that could use some good economic news) that would manufacture wood pellets now marketed mostly to European power-generating facilities that use the bioenergy to meet their own carbon emission-cutting goals. (See Bioenergy Push Spurs 2 New Wood Pellet Plants in Pine Bluff, Monticello.)

Utility officials and others say the only way Arkansas can meet the EPA goals is by closing a coal-fired plant or two, action that would hurt Arkansas’ economy. Regulation is a job killer, they say.

Except when it’s not. Regulation in Europe to lower carbon emissions has created opportunities for two companies to invest a total of $220 million and create 87 jobs at two facilities — in Arkansas. Imagine the opportunities if Highland Pellets and Zilkha Biomass had an American market, if U.S. power companies, seeking to meet EPA regulations, looked to buy wood pellets from plants in Pine Bluff and Monticello.

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