As Louisiana’s industry plans for its future, carbon capture and storage must be part of that conversation.
Carbon capture is not only good for the environment, it’s critical to maintaining a healthy, competitive business advantage in Louisiana.
The global marketplace is changing as customers and consumers call for goods to have a lower carbon footprint and the industry to increase innovation, which is nothing new to Louisiana’s businesses. For decades, our industry has rapidly evolved safely and early to meet demands set by increasing regulations, changes in the business climate and global events. Louisiana has a competitive advantage and the ability to control our economic future before our customers speak with their feet and find their products elsewhere.
Louisiana is already years ahead of carbon capture investments happening in other states, which are four-to-five years away from being able to begin carbon capture permitting. And the investments are already pouring in. Most recently, a $2 billion commitment from CF Industries to employ carbon capture technology at its facility in Ascension Parish, the largest ammonia production facility in the world, and store it at ExxonMobil-owned storage space in Vermillion Parish. This project is set to capture and divert an estimated 2 million metric tons of carbon annually, replacing the equivalent of roughly 700,000 gasoline-powered cars with electric vehicles. Additionally, Cleco Power recently announced its plans to develop a cutting-edge carbon capture facility in central Louisiana that will be one of the first projects in the U.S. to capture carbon from a power generation facility.
The manufacturing industry can’t simply shut down. Louisiana’s chemical companies manufacture essential everyday goods like medical equipment, cell phones and cars. This technology is crucial in industries where carbon is an inherent, essential part of the manufacturing process and cannot be easily eliminated by strictly switching to low- or no-carbon sources of power. Carbon capture and storage is an essential solution to maintain industry production and keep those revenues and tax dollars in Louisiana.
Louisiana is committed to finding economic solutions that work for everyone. The state’s industry is situated along existing infrastructure with the ability to transport captured carbon to other facilities for use, or to its storage sites while retaining and growing hundreds of thousands of jobs across the state. Through carbon capture, Louisiana will remain competitive for both customers and continued investments, which support state and local economies.
Louisiana’s natural geography is as important as its man-made infrastructure, and it is extremely conducive to a successful carbon capture and sequestration program. It’s our competitive advantage. Because of this, Louisiana remains at the forefront of what’s possible in the carbon capture space.
In addition to Louisiana’s geography. and proximity to industry, there are opportunities for local students to hold jobs in the industry right in their own communities. Local universities have developed programs designed to prepare thousands of students for careers in the manufacturing and chemical industries. With these advances in carbon capture technology, those students can remain in Louisiana and continue to grow their careers and industry at home.
These investments in new innovations will allow the chemical industry to thrive, continue to employ tens of thousands of Louisianians and support state and local tax bases. As our industry continues to innovate, as it has over the last several decades, companies are identifying the solutions that work best for the environment and their business. At this intersection is where one finds carbon capture — good for Louisiana and good for the environment.
For more information, visit lca.org or call (225) 344-2609.
