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Started By
Message
re: Exxon to invest $20B in Gulf Coast, 45,000 jobs
Posted on 3/6/17 at 9:59 pm to CavalryAg07
Posted on 3/6/17 at 9:59 pm to CavalryAg07
quote:
Who is Sec of Energy? Bobby Jindel? Can't remember..
Who has the major river that Pres Trump supports deepening? I can't remember ...
quote:
Just joking. Hope it's split 50/50z
If it's a 50/50 split I motion that we allow Exxon to sponsor the LSU-A&M rivalry.
0
Posted on 3/6/17 at 10:09 pm to montanagator
quote:
I'll believe when I see it, so many companies "pledge to build" get the press then don't follw through.
That is because they got held up with redtape thanks to Obama.
quote:LINK
The global demand for liquefied natural gas is not infinite, and the time for the U.S. to act on harvesting its share of the natural resource is now.
Southwest Louisiana is in the process of seizing upon that, and a new report published by America's Natural Gas Alliance (ANGA) said the area is poised to reap the economic benefits associated with that, but there are some concerns.
ANGA represents the nation's natural gas industry, much like what LOGA does for Louisiana's oil business. Its report, titled "Carpe Diem: LNG Exports are America's Once-in-a-Generation Opportunity, echoes the line made famous by the late Robin Williams and concludes America has gone from "a posture of energy scarcity to one of energy abundance," and can become a global energy leader if we "seize the day."
But too much government red tape could jeopardize that.
"If we delay too long in getting our facilities up and running, and into that market, we're gonna lose out on the opportunity," said ANGA President and CEO, Marty Durbin.
Moody's Investors Services recently predicted many of the 30 planned LNG projects in North America could be cancelled due to production in other countries. That notwithstanding, Southwest Louisiana is poised to reap the economic benefits associated with such projects and likely will not face that fate, according to Durbin.
quote:LINK
Last year, Obama promised his administration would “keep cutting red tape and speeding up new oil and [natural gas] permits.” But one year later, the administration has delayed and cancelled oil and gas permits.
When the government was hit by a slew of spending cuts known as the “sequester”, the White House said that oil and natural gas leases would be slowed down due to the lack of funds at federal agencies. Even some House Democrats protested this action because it would cost the government much-needed revenues.
“Development of oil and gas on federal lands and waters would slow down, due to cuts in programs at the Department of the Interior (DOI) and other agencies that plan for new projects, conduct environmental reviews, issue permits and inspect operations,” the White House said. “Leasing of new federal lands for future development would also be delayed, with fewer resources available for agencies to prepare for and conduct lease sales.”
That is why oil and gas was so happy when Trump won.
quote:LINK
The U.S. energy industry on Wednesday reveled in Republican Donald Trump's presidential victory, expecting him to be a strong advocate for more oil and gas output and to cut red tape that has held back billions of dollars of investment in new projects.
They are not announcing "new programs" they are making new announcements about finally being able to move forward with projects that they had already planned.
Posted on 3/6/17 at 10:18 pm to StrongSafety
Borris being Borris
Posted on 3/6/17 at 10:34 pm to cjared036
quote:
I hope Texas gets a bulk of those jobs
It is.
Posted on 3/6/17 at 10:36 pm to StrongSafety
quote:
Hmmm Tillersons old company magically makes 45k new jobs out of thin air (could this have not happened in sept 2016), tillerson gets power, and all the new jobs go to Perrys old state.
This has been in the works well before Tillerson even knew that SoS was possibility, before he ever thought Trump's campaign was serious.
Posted on 3/7/17 at 9:41 am to joshnorris14
Reading the details of their release it looks like very little of it will be in Louisiana, and the biggest part of it already happened (in BR)
LINK
LINK
Posted on 3/7/17 at 10:21 am to joshnorris14
quote:
Who downvotes this? Of all the things to downvote
Liberal pussies.
Posted on 3/7/17 at 10:42 am to joshnorris14
I love reading news like this. As others have noted, this has been in the works for a while and even foreign companies are locating facilities along the coast due to the abundance of cheap natural gas to both power their facilities and to export said gas.
Plaquimines parish is getting $7 billion or so in investment for a new LNG export facility.
The business climate in place now will just help things like this move faster.
As a side note, in a few months, Motiva will be a fully owned Saudi company and will be taking over the largest refinery in the U.S. as well as several terminals. I predict that they are going to move aggressively to buy some other companies/assets.
I expect the nimrods will be bitching about this once it starts making news.
And SS is an idiot.
Plaquimines parish is getting $7 billion or so in investment for a new LNG export facility.
The business climate in place now will just help things like this move faster.
As a side note, in a few months, Motiva will be a fully owned Saudi company and will be taking over the largest refinery in the U.S. as well as several terminals. I predict that they are going to move aggressively to buy some other companies/assets.
I expect the nimrods will be bitching about this once it starts making news.
And SS is an idiot.
Posted on 3/7/17 at 11:21 am to StrongSafety
quote:
Liberals want jobs for everyone
After that your post just kind of went from laughable to jibberish.
quote:
Glad the govt balled those lazy working class workers out again. Weren't smart enough to innovate and make their own way? Or too lazy to get off their arse and make their own way? Why should this class get a pass while others don't ?
quote:
We just don't want jobs that comprise our earth and all of us. Trumplicans mindless and short sighted pursuit of a cheap buck will lead to our quick demise. Life isn't a zero sum game. It's probably why so many of their have mental health, opioids, addiction, and suicide issues-- basing your life on material things never works out well because you can always have them stripped from you. Because of our economic system, no one is immune to the grips of capitalism and automation.
What the frick was that all about?
This post was edited on 3/7/17 at 11:24 am
Posted on 3/7/17 at 11:27 am to notiger1997
quote:
Plaquimines parish is getting $7 billion or so in investment for a new LNG export facility.
7 of the 20 Billion is going to plaquimines parish? Where does that number come from? I read the article on a few sites and it sounds like Texas will get the vast majority, like 18 of the 20Billion. Like someone mentioned the Louisiana part has already happened.
Which is great for TX.
Posted on 3/7/17 at 11:30 am to Mudminnow
quote:
7 of the 20 Billion is going to plaquimines parish? Where does that number come from?
that's a different project- Venture Global LNG has a possible $7bil facility pending in Plaquemines. Final decision late next year IIRC
Posted on 3/7/17 at 11:32 am to 90proofprofessional
quote:
that's a different project- Venture Global LNG has a possible $7bil facility pending in Plaquemines. Final decision late next year IIRC
Great, where are the potential sites?
Posted on 3/7/17 at 11:32 am to 90proofprofessional
quote:
that's a different project- Venture Global LNG has a possible $7bil facility pending in Plaquemines. Final decision late next year IIRC
Cameron LNG is in the process of an expansion right now as well but I'm not sure of the scope.
ETA:
Just looked and the Venture deal is being reported at 8.5 per the latest articles.
This post was edited on 3/7/17 at 11:35 am
Posted on 3/7/17 at 11:37 am to junkfunky
quote:
Cameron LNG is in the process of an expansion right now as well but I'm not sure of the scope
yeah SW LA has some big ones going on
well, big ones construction-wise anyway. not a lot of permanent jobs associated with these considering their price tags. it's usually a few hundred jobs each, for multi-billion-dollar projects. there is a permanent uptick in maintenance/turnaround work i guess though. good news either way (ETA assuming this isn't too heavily-subsidized)
This post was edited on 3/7/17 at 11:39 am
Posted on 3/7/17 at 11:39 am to joshnorris14
Via email, Exxon spokesman William Holbrook said: “From the beginning, our statements were clear as to the time frame of the investments: over a decade from 2013 out to at least 2022." The plan includes “a mix of projects currently under construction and some proposed that haven’t begun construction."
Exxon follows other U.S. giants such as Ford Motor Co., Intel Corp., General Motors Co. and Wal-Mart Stores Inc. responding to Trump’s call to eschew overseas investments and focus on domestic developments. Like those other plans, Exxon didn’t specify how much of the 10-year investment program was previously announced.
Exxon follows other U.S. giants such as Ford Motor Co., Intel Corp., General Motors Co. and Wal-Mart Stores Inc. responding to Trump’s call to eschew overseas investments and focus on domestic developments. Like those other plans, Exxon didn’t specify how much of the 10-year investment program was previously announced.
Posted on 3/7/17 at 11:40 am to cjared036
quote:
I hope Galveston gets a bulk of those jobs.
Posted on 3/7/17 at 11:41 am to Bullethead88
obviously, they're mostly just seizing an opportunity to curry some favor with an administration itching for credit and willing to try to micromanage
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