Biden Administration Grants Louisiana Authority to Approve Carbon Capture Projects

Biden Administration Grants Louisiana Authority to Approve Carbon Capture Projects

BY  
Jordy Leo  
- January 3, 2024

The Biden administration has granted Louisiana regulators new power to attract and approve carbon capture projects, as reported by AP News on December 29. The decision enables Louisiana to take over the responsibilities from the Environmental Protection Agency (EPA), which oversees permitting for carbon dioxide (CO2) storage wells in all but two other states across the US. In addition, the EPA and Louisianan have inked an agreement focused on environmental justice. The agreement stipulates Louisiana’s obligations to safeguard communities from environmental hazards associated with storage wells and to ensure these projects do not contaminate underground sources of drinking water.

The decision to grant Louisiana primacy over permitting CO2 storage wells could ease the burden of EPA staffs, as the CO2 injection applications pending EPA approval have piled up to 172 nationwide. As a major hub for the petrochemical industry, Louisiana has around 30 carbon capture projects proposed by developers, more than any other state. The projects queening for approval in Louisiana are estimated to have a capturing capacity of 6 million tons of CO2 per year. Louisiana officials welcomed the EPA’s decision, saying it will help make the state a leading carbon capture player and curb industrial emissions. On the other hand, opponents including environmentalists and some scientists express doubts about the effectiveness of carbon capture, viewing it as a distraction from necessary solutions of phasing out fossil fuels. They have also raised concerns about the potential harm of these projects on nearby communities.

S****ources:

https://apnews.com/article/louisiana-epa-biden-carbon-capture-fossil-fuels-39bd36693f5acfd8455e246ae81ff67a

https://www.bloomberg.com/news/articles/2023-12-28/biden-to-award-lousiana-lead-role-vetting-carbon-storage-wells?srnd=green

Comienza a usar la Herramienta ESG de Seneca hoy

Monitorea el desempeño ESG en carteras, crea tus propios marcos ESG y toma decisiones empresariales mejor informadas.

Toolkit

Seneca ESG

¿Interesado? Contáctanos ahora

Para contactarnos, por favor llena el formulario a la derecha o envíanos un correo directamente a la dirección de abajo

sales@senecaesg.com

Oficina de Singapur

7 Straits View, Marina One East Tower, #05-01, Singapur 018936

+(65) 6223 8888

Oficina de Barcelona

Carrer de la Tapineria, 10

Ciutat Vella, 08002, Barcelona, Spain

+34 612 22 79 06

Oficina de Taipéi

77 Dunhua South Road, 7F Sección 2, Distrito Da'an, Taipéi, Taiwán 106414

(+886) 02 2706 2108

Oficina de Lima

Av Jorge Basadre Grohmann 607 San Isidro, Lima, Perú 15073

(+51) 951 722 377