How much is Strategic Biofuels Investing in Louisiana?
Strategic Biofuels is investing $700 million in order to add a new location in Right to Work Caldwell Parish, Louisiana. The new place will help them produce more renewable diesel while also creating new jobs. In fact, they plan to create 76 new jobs for people in the area. So this is good news for the economy!
From Area Development Magazine:
“Caldwell Parish is the ideal location for our Louisiana Green Fuels plant,. […] It combines the required forestry waste feedstock for fuel production and the right geology for carbon sequestration within the State of Louisiana’s visionary legislative framework, which has been further strengthened by the Climate Initiative established by Governor Edwards. We are especially thankful for his signature on the recent $200 million tax-free bond allocation, which substantially advances the financing for this project.†[…]
“Louisiana Green Fuels is an example of how our state can merge traditional and emerging forms of energy in exciting ways to address climate change. […] The company has engaged Justiss Oil of Jena to drill a sequestration test well that will confirm the integrity of carbon storage a mile below the earth’s surface. This project would boost our state’s forestry sector by harvesting timber byproducts in a sustainable fashion, and the refinery’s renewable diesel output would be accomplished in a carbon-negative fashion. That means this refinery would achieve better than net-zero emissions, it would actually remove more carbon from the environment than it produces.â€
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