Louisiana’s coalition with Arkansas and Oklahoma has missed out on a piece of $7B in federal funding for regional “clean” hydrogen hubs.
Dubbed the HALO Hydrogen Hub - short for Hydrogen, Arkansas, Louisiana and Oklahoma - the research and development coalition had announced earlier this year it was invited by the Department of Energy to apply for the funding.
HALO Hub submitted its application in April. The funding is part of the bipartisan infrastructure law passed in 2021.
Instead, it was announced Oct. 13 that seven other groups won the opportunity to negotiate with the Biden administration for funding, including the HyVelocity H2Hub in Houston. (The Center Square 10/13/23) White House bets $7B on hydrogen hubs | National | thecentersquare.com
La. gains unexpected 8.89M windfall from Deepwater
Louisiana has received an unexpected $8.89M windfall of leftover claims money from private damage settlements with Halliburton and Transocean subsidiaries stemming from their roles in the April 2010 Deepwater Horizon disaster and oil spill, the state Coastal Protection and Restoration Authority says.
The state will use the money to help pay for construction of the $309 million Maurepas Swamp freshwater diversion project in St. John the Baptist Parish, which is to be built adjacent to, and as environmental mitigation for, the West Shore Lake Pontchartrain hurricane levee, now under construction.
The money was Louisiana’s 32% share of about $27M that claims administrators were unable to distribute as part of dual Halliburton and Transocean settlements approved in June 2016, and ended this June. (NOLA.com 10/13/23) Louisiana awarded $8.89 million more in 2010 spill money | Business News | nola.com
La. grain elevator facing potential zoning change
A controversial proposal to build a grain elevator in St. John the Baptist Parish in Louisiana faces a key test on Oct. 16, when the planning commission takes up a zoning change that has been entangled in court disputes and community opposition to the project. The parish has applied for the property owned by Greenfield, a grain export company, to be rezoned from residential to industrial land. Community activists oppose the change, saying the process has been improper and the project itself proposed to be built in Wallace would lead to levels of pollution they consider unacceptable. (NOLA.com 10/13/23) Key test ahead for controversial grain project in St. John | Environment | nola.com
Oil prices jump 5% amid Israel-Hamas war
Oil prices jumped more than 5% during Oct. 13's session amid the Israeli-Hamas war and a clampdown by the US on Russian crude export price caps. On Friday afternoon, West Texas Intermediate and Brent International settled at $87.69 and $90.89 per barrel, respectively. The spike comes as Israel launches counterattacks against Hamas.
The oil market may be anticipating more strict enforcement of sanctions on both Russia and Iran that may l lead to a reduction of oil supplies, according to Andy Lipow, president of Lipow Oil Associates. Oil is also reacting to enforcements on Russian oil exports price caps imposed by the G7 in 2022 that are aimed at limiting funds to Russia for its war against Ukraine. On Oct. 12, the coalition said it identified the owners of vessels carrying Russian oil priced above the $60 price cap. (Yahoo Financial 10/13/23) Oil prices spike as G7 enforces Russian export price caps, Israel-Hamas war continues (yahoo.com)
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