oily hand washes oily hand . . .
By Robert Mann
Louisiana Economic Development Secretary Stephen Moret is not happy. He doesn’t like the fact that Engineering Newshas reported that the South African energy and chemicals group, Sasol, “has secured investment incentives collectively valued at around $1-billion from the state of Louisiana, in the US, to support its proposed development of an ethane cracker and a gas to liquids (GTL) facility in the Lake Charles area.”
The story quotes a Sasol official, who says, “We have estimated that [the incentives] are north of $1-billion in total value – so not net present value – over the life of the project.”
In my Sunday night post, I asked why isn’t it a scandal that Louisiana is “coming up with” a billion-dollar investment in a foreign company while we slash our state’s higher education budget?
Moret, in an email to me this morning, objects to that phrase. In fact, he…
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