Eastman nixes new Beaumont LNG Plant- another victim of Obama's Cap and Trade folly

Port Arthur News ^ | 12/09/2009 | Unknown

[catfish1957]

Eastman nixes plans for Beaumont plant

KINGSPORT, Tenn., – Eastman Chemical Company announced Thursday that it has decided to discontinue its Beaumont industrial gasification project.

According to a press release issued by the company, this decision was made due to a number of factors, including high capital costs, the current and foreseen reduced spread between natural gas and oil and petroleum coke prices, and continued uncertainty regarding U.S. energy and environmental public policy.

[catfish1957]

There will be no new jobs as along as the present POTUS resides in DC.

[jessduntno]

“There will be no new jobs as along as the present POTUS resides in DC.”

And if enough time passes, as I am sure they are aware in DC, our ability to keep the industry alive will fade...

[enduserindy]

“There will be no new jobs as along as the present POTUS resides in DC.”

I hate to make us all feel worse BUT this is the “best case” scenario. It may be allot longer than that.

[Jagman]

That was fast. Guess what China or India are going to get soon.

[Da Coyote]

Sooner or later Texas will tell Obama to shove it.

Why not sooner?

[bert]

I think this project had CO2 sequestration processes involved but can’t recall the details.

[catfish1957]

Sooner or later Texas will tell Obama to shove it.

Sounds good to me, except it didn't work out too good for us last time.

[catfish1957]

I think this project had CO2 sequestration processes involved but can’t recall the details.Not absolutley sure, but I think you are right. Sure isn't a lack of feedstock (refinery coke).

[catfish1957]

I think this project had CO2 sequestration processes involved but can’t recall the details.

Not absolutley sure, but I think you are right. Sure isn't a lack of feedstock (refinery coke).

[enduserindy]

Merry Christmas America!

“Even though it is no longer advantageous for Eastman to pursue this project, we will continue to explore global industrial gasification opportunities as a long-term growth option for the company,”

You’re going to s4!t yourself when you see what we get for Easter.

[hal ogen]

So how does that add to jobs “saved or made”?

[ProtectOurFreedom]

If that was true, then that alone would account for the high capital costs and technical and economic uncertainty. Lots of projects are going to be shelved when carbon sequestration is imposed on them.

And what happens in 100 or 200 years when all those hundreds of billions of tons of CO2 decide to come up out of the earth all at once? The biosphere seems to be handling the extra CO2 load very nicely right now and is keeping up just fine. Shoving all the CO2 into the ground seems like a recipe for a major disaster.

[truthguy]

And the jobs that would have been generated at an LNG facility would have been good productive jobs that didn't require a government stiffen. There would have been good jobs both and the construction and operation of this type of a facility. And the workers would have paid taxes!

Elections have consequences and putting a buffoon like Obama into the White House is having VERY negative consequences.

I only wish that there were some way that the pain and suffering that the Obama Administration is producing were channeled to those idiots who voted for him. Alas this isn't possible and we will all suffer.

If there are any Obama trolls reading this, I hope you rot.

[ProtectOurFreedom]

Jobs are being created al right ... in India and China and Brazil. Places that understand the importance of cheap energy to economic growth and well being of their citizens.

[enduserindy]

New math is the old math and old math is ancient math because the newest, bestest math is lib-math also known as value added math. Just remember anything times anything equals something, and something is what we need.

[Young Werther]

My nephew is a Chem Eng who works at the coal gasification plant in North Dakota. The CO2 is sold to the Canadian Oil company which pumps it into the ground to recover oil from their oil fields. This is what the Eastman plant intended to do as well. The North Dakota plant sells additional CO2 to Coca Cola and Pepsi for human storage.

The Plains states from North Dakota to Texas have lignite coal under their terretories and should we invest we would have CLEAN alternative natural gas, gasoline, oil, diesel, helium, ammonia and all the feed stocks for industries without the pollution. But this isn't what the Obombast Administration is looking for!

[headstamp 2]

Killin’ those “green jobs” one by one.

[Doohickey]

There needs to be a “stillborn jobs” category.

[catfish1957]

Killing LNG jobs only makes us more dependent on foreign oil, as NG is becoming more and more a fuel of choice.

Nice move Obama.....

[Doohickey]

There needs to be a “stillborn jobs” category.