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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.
Posted on 7/1/26 at 1:12 pm to Shexter
quote:
Air Products said they shut the project down ‘based on expected financial returns not meeting stringent return criteria.’
Posted on 7/1/26 at 1:21 pm to KemoSabe65
That’s not Denbury’s fault. They didn’t invent this new market for CO2 logistics.
Posted on 7/1/26 at 1:26 pm to turkish
I don’t doubt they didn’t create the actual deceit but all participants in the deceit are just as culpable in the deceit.
Posted on 7/1/26 at 1:28 pm to Mr Breeze
I had heard the new CEO wasn’t really all that keen on that market.
They also could never secure a buyer for the blue hydrogen they would produce from what I was told.
I figured the job would never actually get built, but assumed they would at least build the two storage tanks and then market that to someone.
They also could never secure a buyer for the blue hydrogen they would produce from what I was told.
I figured the job would never actually get built, but assumed they would at least build the two storage tanks and then market that to someone.
Posted on 7/1/26 at 1:31 pm to KemoSabe65
So you don’t own any energy stocks.
Posted on 7/1/26 at 1:51 pm to Nobs
quote:
The CC well is already drilled and some of the pipeline work is already complete.
You sure about that? I thought only a test well was drilled, but none of the actual Class 6 injection wells to send the CO2 downhole was ever drilled. I doubt they would have drilled and completed such wells without another secure FID benchmark.
But I could be wrong. A buddy of mine was part of the drilling of the test well.
ETA: None of Air Products’s Class VI well applications have been approved. So no, the actual carbon capture well (and it’s actually not “capture”, it was supposed to be point source injection and sequestration) was not drilled.
This post was edited on 7/1/26 at 2:42 pm
Posted on 7/1/26 at 3:07 pm to Shexter
My buddy was on this project. The plan not to move forward was purely based on not taking the financial gamble and zero to do with concerned citizens and the environment. New CEO since this project was conceived. 2200 people laid off. All the higher ups in Houston given one hour to get their belongings and GTF. 1.8 billion spent and 45000 concrete Pilings on site imported from India.
Posted on 7/1/26 at 3:23 pm to Tedorgeron
quote:this is correct. The cost of the projected doubled since it was announced and the new CEO has been hacking all of the megaprojects that the prior CEO drug the company into. This is nothing to do with the local pushback. CEO was against that project the minute he stepped in last year
The plan not to move forward was purely based on not taking the financial gamble and zero to do with concerned citizens and the environment.
Posted on 7/1/26 at 3:24 pm to Shexter
Plant more fricking trees.
Posted on 7/1/26 at 3:25 pm to Tedorgeron
quote:
45000 concrete Pilings on site imported from India.
Think they would notice if I took some for my dock?
Posted on 7/1/26 at 3:28 pm to Shexter
They were going to do it THROUGH????the lake bed
Posted on 7/1/26 at 3:33 pm to real turf fan
Pumping into the lake with CO2 would probably kill everything by turning the lake into carbonic acid. This was going to be "sequestered forever" under the lake.
Posted on 7/1/26 at 5:52 pm to Cycledude
quote:
It’s ashamed all that money that was spent studying and testing the grounds under the lake. Money would have been better spent capping and sealing up all the leaking abandoned oil wells in the marshes and gulf.
I’m sort of thinking this might be a tactic to distance Letlow from the carbon capture scheme
It will be interesting to see if this idea is revisited after her election.
Posted on 7/1/26 at 6:19 pm to Bestbank Tiger
Nah. All the trees are being cut down for affordable housing and new subdivisions. And then wonder why it’s so hot.
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