Louisiana continues to attract major industrial investments, creating new jobs and bringing billions of dollars in capital to the state. On Mornings With Brian Haldane, David Cresson, President and CEO of the Louisiana Chemical Association, discussed how carbon capture and storage could help Louisiana remain competitive while supporting future industrial growth.
Carbon Capture and Economic Growth
Cresson recently wrote an opinion column arguing that carbon capture and storage could benefit Louisiana’s economy. He said chemical manufacturers and other industrial companies need access to the technology to compete in a changing global market.
According to Cresson, 13 publicly announced Louisiana industrial projects represent an estimated $48 billion in capital investment and include carbon capture components designed to address carbon dioxide emissions.
He said access to carbon capture could also help Louisiana attract additional companies looking for locations for future investments.
Addressing Concerns About CCS
Carbon capture has faced criticism from environmental groups and other opponents. Cresson said legitimate questions deserve clear answers and emphasized the importance of communicating with communities about how the technology works.
He argued that Louisiana needs to evaluate carbon capture based on available information rather than misinformation. Cresson also said the technology can help industrial facilities reduce emissions while allowing companies to continue producing products used in everyday life.
Louisiana’s Industrial Momentum
Cresson pointed to recent developments involving companies such as Hyundai and CF Industries as evidence of continued industrial investment in Louisiana. He said these projects can create thousands of direct and indirect jobs while strengthening local economies.
As Louisiana pursues additional economic development, Cresson believes carbon capture could become an important part of the state’s industrial strategy. He emphasized that collaboration between industry, communities and environmental interests could help Louisiana pursue economic growth while addressing environmental concerns.