Politics & Government

Letter to the Editor: City Weighs in on E&B's Economic Study

E&B recently paid for and released a study concerning the potential economic impact its proposed oil production project might have on Hermosa Beach.

Letter to the Editor:

In the wake of E&B’s economic study of its proposed oil project, we recommend the public reserve its judgment until the City of Hermosa Beach completes its own independent economic analysis. 

The city’s study will provide an impartial assessment of E&B’s numbers, as well as examine negative and positive economic impacts likely to flow from the project. It also will review factors not included in the E&B analysis, including the impact on tourism and property values.

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The voters will ultimately decide if the proposed project moves forward. To help them make that decision, the city also will conduct an Environmental Impact Review as prescribed in the settlement, and a separate study of health impacts of the proposed project.

There will be a lot of information to consider. To facilitate this process, the city will be launching a Community Dialogue to engage residents and business owners in determining the priorities and values for the city’s future. The dialogue will also provide an opportunity to explore how the city would pay the $17.5 million it will owe if voters reject the oil project or how it would use revenues from the proposed project, if it is approved and produces oil.

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We encourage all interested residents and business owners to participate.

Tom Bakaly
Hermosa Beach City Manager


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