Posted on 01/28/2015 9:38:39 AM PST by justlittleoleme
South African petrochemical company Sasol is delaying a decision on whether to move forward with a proposed $14 billion gas-to-liquids facility outside of Lake Charles, the company said Wednesday (Jan. 28).
Sasol said the plans are being put on hold as the company saves cash in response to falling oil prices.
The gas-to-liquids facility is part of a $21 billion planned complex in Westlake, one of the largest foreign investments in Louisiana history.
"Albeit at a much slower pace, we will continue to progress the U.S. GTL facility," Sasol president and CEO David Constable said in a news release. "This will allow us to evaluate the possibility of phasing in the project in the most pragmatic and effective manner. North America and our home base in Southern Africa remain strategic investment destinations for Sasol."
(Excerpt) Read more at nola.com ...
Diesel still cost well over $2.50 a gallon here.
Had to read it a few times to get what is going on...
The 8 Billion Etheline Cracker project is continuing.....
The 11 Billion Gas-To-Liquids project is being shelved....
http://www.americanpress.com/news/local/Sasol-delay-FID-GTL
Gas to liquids eh? All they really need is a Taco Bell, it’s had that effect on me for decades.
So if oil prices are still falling then why did the price at the pump jump 13 cents last night?
More info at:
http://fuelfix.com/blog/2015/01/28/sasol-delays-decision-on-14-billion-u-s-plant-on-oil-drop/
I seriously want to curse now. I’ve been applying for jobs there so I can move back home. Applied for several positions there already.
The expansion for the ethaline cracker is still continuing, so keep applying
I work more on the administrative side, expansions don’t really expand my job field...not like a new plant.
What about CTL??? We have buttloads of coal here, why is no one more than playing with the idea?
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