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re: Air Products announces fund to benefit Lake Maurepas communities
Posted on 10/17/23 at 7:43 am to ragincajun03
Posted on 10/17/23 at 7:43 am to ragincajun03
quote:
critics of the project oppose the company disturbing the fragile ecosystem that has supported local fisheries and restaurants for generations, with residents pointing out that Lake Maurepas is one of the last unspoiled waterways in the state
I guess the Maurepas residents didn’t get the memo - you have to destroy the remaining natural environment in order to save it.
It’s a shame to impact that area for one big - federal tax credit - money grab.
1
Posted on 10/17/23 at 8:39 am to stewie
quote:
It’s a shame to impact that area for one big - federal tax credit - money grab.
Federal tax credits at $85 per metric tonne of CO2 sequestered makes these types of projects a go from a business perspective. In this case, Air Products is taking cheap natural gas, "reforming" it, producing H2 and sequestering the CO2 byproduct.
They will likely sell the H2 to CF Industries to make ammonia (think fertilizer and other products) and get tax credits for the sequestered CO2. They will make money off of both products from methane (natural gas) and atmospheric oxygen, i.e., H2 and CO2.
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