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Press Release, Tom Sanzillo and Suzanne Mattei
IEEFA finds significant financial, market, regulatory and political risks for multibillion-dollar ‘Sunshine Project’ in Louisiana’s ‘Cancer Alley’
March 23, 2021 (IEEFA) ⎼ A report released today by the Institute for Energy Economics and Financial Analysis (IEEFA) details the financial, legal, social and public opposition risks of Taiwan-based Formosa Plastics Group’s proposed petrochemical complex in St. James Parish, Louisiana. IEEFA finds that the project will begin operations at a time of market oversupply, […]
Press Release, Cathy Kunkel, Suzanne Mattei and Clark Williams-Derry
Falling demand, legal and regulatory challenges spell financial peril for pipeline project
March 8, 2021 (IEEFA) — A 303-mile pipeline that would move natural gas from the Appalachian Basin to markets in the eastern and southern U.S. is in financial jeopardy because of reduced demand projections and legal challenges, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The Mountain […]
IEEFA
S&P Global Market Intelligence ($): Entergy Services LLC on March 5 launched a request for proposals seeking up to 500 MW of solar photovoltaic resources on behalf of Entergy Louisiana LLC. The request, or RFP, aims to procure new build-solar resources that can provide cost-effective energy supply, fuel diversity and other benefits to Entergy Louisiana’s […]
IEEFA
Bloomberg: Exxon Mobil Corp. is about to incur the biggest writedown in its modern history as the giant U.S. oil and gas producer reels from this year’s collapse in energy prices. Exxon — traditionally far more reluctant to cut the book value of its business than other oil majors — on Monday disclosed it will […]
IEEFA
The Advocate: A state district judge sent critical air permits for a $9.4 billion Formosa Plastics complex back to state environmental regulators so they can take a closer look at the St. James Parish facility’s emissions impacts on Black residents living nearby. Nineteenth Judicial District Judge Trudy White issued the finding during a hearing Wednesday, […]
IEEFA
S&P Global Market Intelligence ($): Venture Global LNG is delaying the financial close of its proposed Plaquemines LNG export facility in Plaquemines Parish, La., to mid-2021. The Plaquemines LNG facility, which will have an export capacity of up to 20 million tonnes per year, is anticipated to start commercial operations in 2024, Venture Global said […]
IEEFA
S&P Global Market Intelligence ($): With the East Coast of the U.S. becoming saturated with planned offshore wind projects, momentum is picking up to kick-start development elsewhere — in particular, off the coasts of Louisiana and California. In Louisiana, Gov. John Bel Edwards, a Democrat, told his Climate Initiatives Task Force at its inaugural meeting […]
IEEFA
S&P Global Market Intelligence ($): In another indication of growing U.S. utility interest in energy from hydrogen and in large-scale battery storage, Entergy Corp. and Mitsubishi Power Americas Inc., an affiliate of Japan’s Mitsubishi Heavy Industries Ltd., said that they will jointly develop “decarbonization projects” for Entergy’s utility operations in Arkansas, Louisiana, Mississippi and Texas. […]
IEEFA
Reuters: Nearly two-thirds of U.S. energy company executives polled by the Federal Reserve Bank of Dallas believe U.S. crude oil production has peaked, according to a survey released on Wednesday. The COVID-19 pandemic has knocked global oil demand and prices, prompting deep cuts in drilling this year by shale oil producers. The United States last […]
Frank Bass
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel-based industries—coal, liquefied natural gas, and plastics—were becoming less financially attractive even before the global coronavirus pandemic, according to experts who spoke during the second week of IEEFA’s 2020 Energy Finance Conference. The annual meeting of international energy, finance and policy experts, which was offered online this year because of COVID-related restrictions, […]
IEEFA U.S.: Proposed Formosa, Louisiana petrochemical complex financially unviable
IEEFA finds significant financial, market, regulatory and political risks for multibillion-dollar ‘Sunshine Project’ in Louisiana’s ‘Cancer Alley’March 23, 2021 (IEEFA) ⎼ A report released today by the Institute for Energy Economics and Financial Analysis (IEEFA) details the financial, legal, social and public opposition risks of Taiwan-based Formosa Plastics Group’s proposed petrochemical complex in St. James Parish, Louisiana. IEEFA finds that the project will begin operations at a time of market oversupply, […]