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re: Air Products cancels Lake Maurepas carbon capture facility
Posted on 7/1/26 at 7:33 am to Shexter
Posted on 7/1/26 at 7:33 am to Shexter
Environmentalist say it's a huge win. Saving a dead lake that doesn't get enough oxygen to have a good ecosystem. Hopefully the diversion project still goes through
0
Posted on 7/1/26 at 7:33 am to TIGERsinceCONCEPTION
quote:
Denbury’s business was always producing oil with Enhanced Oil Recovery from aging oulfields. They dressed up as a carbon capture company for a year and the execs sailed off into the sunset.
They didn’t just “dress up” that way. They had the CO2 handling infrastructure - pipelines, compressor stations and reservoir. All they had to do was a little re-valving and turn the pipeline around. Everyone else was years away.
Chris Kendall was an old associate and client of mine. carbon capture fell out of the sky like a winning powerball ticket. It could not have happened to a nicer CEO. I think he got $68 million in equity from the deal, and then another $68 million in severance due to change in control. He was just a project manager for Samedan when I first met him, but even then he had “it”.
Posted on 7/1/26 at 7:49 am to Penrod
quote:
carbon capture fell out of the sky like a winning powerball ticket.
Like a solution looking for a problem?
A grift is a petty or small-scale swindle, fraud, or confidence game. It refers to the act of obtaining money or property dishonestly through deceit rather than physical force. Someone who executes these schemes is known as a grifter
CC is part and parcel of the green new deal ala climate change, ala global warming, ala carbon credits bullshite.
Posted on 7/1/26 at 8:27 am to Potchafa
quote:
Did the project ever actually start?
Yes. Several billion sunk in it. The actually plant plot has all the dirt work complete and the pilling is actually sitting on the ground. There's millions in equipment stored all over the Gulf Coast.
The CC well is already drilled and some of the pipeline work is already complete.
Posted on 7/1/26 at 9:23 am to Shexter
The cancellation underscores a hard truth: many people support clean energy in principle, but large projects quickly lose backing when cost, regulations, or local impacts become real.
It raises a deeper concern: clean energy transition is at risk if people support it in theory but oppose it when it affects them - making companies hesitant to invest in the scale required.
It raises a deeper concern: clean energy transition is at risk if people support it in theory but oppose it when it affects them - making companies hesitant to invest in the scale required.
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