DOE one step closer to $2B polluter giveaway
WASHINGTON, D.C. — The Department of Energy announced a $2 billion conditional loan guarantee to Lake Charles Methanol, a carbon capture and sequestration facility proposed for Louisiana. The facility, which aims to convert the refining byproduct petcoke into methanol and capture the related CO2 for oil extraction, is the first fossil energy project to receive a loan guarantee under the Title XVII program.
Friends of the Earth Climate and Energy Campaigner Lukas Ross issued the following statement in response:
Carbon capture and sequestration is the wrong choice for the climate and the wrong choice for frontline communities. The last thing projects like this deserve are billions in subsidies.
This is a giant step in the wrong direction, but the decision still isn’t final. While there is still time, we fully intend to push back and make sure that taxpayers aren’t left on the hook for another fossil-friendly boondoggle.
Expert contact: Lukas Ross, (202) 222-0724, [email protected]
Communications contact: Kate Colwell, (202) 222-0744, [email protected]