Louisiana Green Fuels Fund Updates > LGF Specific Legislation
Louisiana State LGF Specific Legislation
Setbacks are inevitable for any project and Louisiana Green Fuels is no exception. What separates those projects that don’t succeed from those that do, is having the right team in place to overcome these inevitable setbacks.
The team at Louisiana Green Fuels have demonstrated again and again that, when confronted with a problem, they work together as a team and find a solution. Here’s a recent example to highlight what we’re talking about;
The team at Louisiana Green Fuels have demonstrated again and again that, when confronted with a problem, they work together as a team and find a solution. Here’s a recent example to highlight what we’re talking about;
Problem
As part of CARB’s requirements for the California LCFS program, they require projects to confirm that there will be no new drilling for oil and gas in the area where projects are sequestering CO2. Now there is no oil and gas in this part of Louisiana, but CARB are looking for guarantees, not assurances.
Solution
The LGF team lobbied for and successful passed specific legislation in the State of Louisiana prohibiting oil and gas drilling in Caldwell Parish (where the project is located) in any location where CO2 sequestration has taken place.
As part of CARB’s requirements for the California LCFS program, they require projects to confirm that there will be no new drilling for oil and gas in the area where projects are sequestering CO2. Now there is no oil and gas in this part of Louisiana, but CARB are looking for guarantees, not assurances.
Solution
The LGF team lobbied for and successful passed specific legislation in the State of Louisiana prohibiting oil and gas drilling in Caldwell Parish (where the project is located) in any location where CO2 sequestration has taken place.
Think about that. This team managed to get the State Legislature to enact a law that bans drilling for oil and gas, in an oil and gas state, just to protect this project. The vote in both houses was unanimous. The Louisiana Oil and Gas lobby supported the Bill. The Bill still needs to be signed into law by the Governor, but we don’t anticipate any issues given the overwhelming support for the legislation.
Learn more about how you can invest in a project that will provide significant environmental impact, and a team that has a track record of overcoming obstacles.
Learn more about how you can invest in a project that will provide significant environmental impact, and a team that has a track record of overcoming obstacles.
Have more questions?
If you would like to learn more about the Louisiana Green Fuels project click below or email us at IR@ballastrock.com
