ClearPath Praises DOE Loan Guarantee For Lake Charles Project

Would be important first step to commercialize carbon capture tech

WASHINGTON, Dec. 21, 2016 — ClearPath Action CEO and Founder Jay Faison issued the following statement in reaction to today’s announcement by the Department of Energy to conditionally grant a loan guarantee of up to $2 billion for the construction in Lake Charles, LA, of the world’s first methanol production facility to employ carbon capture technology:

“This is an important step forward in commercializing carbon capture technologies. Some of the most promising early opportunities in this space will be in industrial applications, and the Lake Charles project is a great early example that will build the infrastructure for using captured CO2 as a valuable commodity, especially for enhanced oil recovery. And this also is an important reminder that the Department of Energy can be an effective partner in expanding carbon capture technologies and conservative clean energy more broadly. We expect even greater things from a Republican Congress and an Energy Department headed by Rick Perry and the Trump administration that understands the economic potential for further expanding these technologies.”

ClearPath Action is a 501(c)4 working to create and influence conservative clean energy solutions.