Louisiana lawmakers are grappling with how to ensure equitable revenue distribution from emerging carbon capture and sequestration projects, The Center Square reports.
Recent testimony before the state House Committee on Natural Resources and Environment highlighted local concerns about economic benefits and risks of the nascent sector.
Greg Upton, director of LSU’s Center for Energy Studies, emphasized the complexities of cost-benefit analyses for carbon capture and storage projects, particularly the disparity between the economic benefits at the state level and the localized impact on parishes.
Upton and the committee both shared concerns that while the state benefits from increased tax revenues and reduced emissions intensity, local governments face limited property tax revenues associated with sequestration sites.
