Stephen Moret is not happy

oily hand washes oily hand . . .

Something Like the Truth

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…

View original post 687 more words

Advertisements

6 thoughts on “Stephen Moret is not happy

  1. The numbers on this project have flip-flopped all over the place since it was announced.

    http://www.nola.com/politics/index.ssf/2012/12/gov_bobby_jindal_sasol_announc.html

    “Louisiana’s chief economist said the projects would result in a net cost to the state, while legislators and development officials argued the projects would bring in billions of dollars in tax revenue.” http://www.nola.com/politics/index.ssf/2013/08/lawmakers_ok_incentive_package.html

    When I first read about it, the incentive package angered me (still does) but, I also saw problems with all that was being promised to our citizens in this deal One thing that bothered me was the number of jobs being promised. There were no guarantees that these would be filled by Louisiana residents. There already seems to be some question about that. I read something this morning that said that jobs may be given to Texas residents. Can’t find the article at the moment. I’ll look for it and post a link.

    Numbers people are definitely messing with this one, though!!! This is all to benefit the industry, and NOT us, as usual…and, of course, the XL pipeline. So Africa based corporation and Canadian production.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s