Air Products has canceled its $4.5 billion Clean Energy Complex in Louisiana, including a carbon capture and storage project that would have injected CO2 under Lake Maurepas. The company will take a $2.2 billion after-tax loss. Analysts point to political hostility, loss of federal clean energy tax credits, and strong public opposition as key factors. The project faced local resistance and a state moratorium on new carbon storage permits, creating uncertainty that made the investment untenable. The cancellation could signal broader headwinds for CCS in the U.S. Gulf region. Other major projects, including Exxon's low-carbon hydrogen plant in Texas, have also been shelved as federal support shifts. Economists warn that the decision may embolden opposition to other carbon storage proposals and deter future investment. The lesson for the industry may be that injecting CO2 under public lands or lakes invites more resistance than on-site storage on private property.
