{"id":391435,"date":"2019-01-03T09:19:33","date_gmt":"2019-01-03T08:19:33","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/louisiana-offers-fossil-fuel-exporter-largest-local-tax-giveaway-in-history\/"},"modified":"2019-01-03T09:19:33","modified_gmt":"2019-01-03T08:19:33","slug":"louisiana-offers-fossil-fuel-exporter-largest-local-tax-giveaway-in-history","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/louisiana-offers-fossil-fuel-exporter-largest-local-tax-giveaway-in-history\/","title":{"rendered":"Louisiana Offers Fossil Fuel Exporter Largest Local Tax Giveaway in History"},"content":{"rendered":"<div>\n<figure class=\"featured-media wp-caption\" itemprop=\"image\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/ImageObject\"><noscript><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"359\" src=\"https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"\" itemprop=\"url\" srcset=\"https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0.jpg 640w, https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0-200x113.jpg 200w, https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0-400x225.jpg 400w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\"\/><\/noscript><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"359\" src=\"https:\/\/truthout.org\/wp-content\/uploads\/2018\/03\/Truthout-Default-Image-1200x900.png\" class=\"attachment-large size-large wp-post-image to4-lazy-load\" alt=\"\" itemprop=\"url\" srcset=\"\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" data-src=\"https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0.jpg\" data-srcset=\"https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0.jpg 640w, https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0-200x113.jpg 200w, https:\/\/truthout.org\/wp-content\/uploads\/2019\/01\/LNG-tanker_0-400x225.jpg 400w\"\/><figcaption class=\"wp-caption-text\" itemprop=\"caption\">LNG tanker Arctic Princess.<\/figcaption><figcaption class=\"wp-caption-credit\" itemprop=\"author\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/Person\"><span itemprop=\"name\"><a href=\"https:\/\/www.flickr.com\/photos\/magrad\/45791567732\/in\/photolist-SXLHLQ-Bscvv9-2aFzXnG-dSsPvk-2aro4Tf-meMDrv-UHVxKA-2cLrKJu-RoCEiL-28sheNd-T1dyWF-29ngiz5-5bzGYg-xkESzp-epQbFN-29zM4e3-tdUqcg-bC3aYq-roAFCb-6wEHL5-dtax4p-Lh8H3u-M8boLh-M8boPd-F1brhq-zavzbM-26yq8hn-29pVRaB-wtKPvi-K2L8Ba-NJVVqx-AqpxP9-wggUZb-25Hposu-tdRDin-WRSyLm-KKPPS3-23NH7QA-K4Vmy2-KDkL5S-26XuzvS-J6mG7S-rW5iGX-KFMNmR-6wAxFe\" target=\"_blank\">Rados\u0142aw Magiera<\/a> \/ Flickr<\/span><\/figcaption><\/figure>\n<p>Louisiana plans to collect no industrial property tax from the $15.2 billion Driftwood liquefied natural gas (<span class=\"caps\">LNG<\/span>) export terminal planned for its southwest corner, state officials announced in December. <\/p>\n<p>Critics say this tax break is worth $1.4 to $2.4 billion, making it one of the largest local corporate tax exemptions in American history \u2014 even larger than those offered to Amazon for its much sought-after second headquarters.<\/p>\n<p>Proposed by the natural gas firm Tellurian, the Driftwood terminal, which would liquefy and export 4 billion cubic feet of natural gas a day, is one of over a dozen gas export terminals proposed around the<span> <\/span><span class=\"caps\">U.S.<\/span><span> <\/span>and fueled by a glut of shale gas released by fracking. The final investment decision for Driftwood is expected in early 2019, as are decisions on two other proposed Gulf Coast export terminals. <\/p>\n<p>The move comes as a group of investors and insurers have called on the<span> <\/span><span class=\"caps\">U.S.<\/span><span> <\/span>and all other<span> <\/span><span class=\"caps\">G20<\/span><span> <\/span>nations to end fossil fuel subsidies entirely by 2020, citing the risk that climate change poses to the global economy.<\/p>\n<p>From 2012 to 2016, fossil fuel subsidies were slashed in half, falling from a peak of nearly $500 billion, according to the International Energy Agency\u2019s<span> <\/span><a href=\"https:\/\/www.iea.org\/newsroom\/news\/2018\/october\/hard-earned-reforms-to-fossil-fuel-subsidies-are-coming-under-threat.html\" rel=\"noopener\">World Energy Outlook 2018<\/a>. However, in 2017, global subsidies began to rise again, edging up to $300 billion. (The<span> <\/span><span class=\"caps\">IEA<\/span><span> <\/span>report<span> <\/span><a href=\"https:\/\/www.iea.org\/weo\/energysubsidies\/\" rel=\"noopener\">looked<\/a><span> <\/span>only at subsidies for energy consumption and left out the costs borne by the public of health impacts and environmental harms.)<\/p>\n<div class=\"banner_wrapper\" style=\"\">\n<div id=\"banner-247291\" class=\"banner subscribe-banner  banner-247291 bottom vert custom-banners-theme-default_style\" style=\"\"><a class=\"custom_banners_big_link\" href=\"#\"\/><\/p>\n<div class=\"banner_caption\" style=\"\">\n<div class=\"banner_caption_inner\">\n<div class=\"banner_caption_text\" style=\"\">\n<p><strong>Never miss another story<\/strong><\/p>\n<p>Get the news you want, delivered to your inbox every day.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>By 2025,<span> <\/span><a href=\"https:\/\/www.desmogblog.com\/The%20U.S.%20is%20poised%20to%20triple%20export%20capacity%20to%20around%2010%20Bcf\/d%20by%20the%20end%20of%20next%20year%2C%20and%20we%20could%20be%20on%20our%20way%20to%20be%20the%20world%27s%20largest%20exporter%20before%202025.\" rel=\"noopener\">analysts say<\/a>, the<span> <\/span><span class=\"caps\">U.S.<\/span><span> <\/span>could become the world\u2019s largest exporter of the fossil fuel<span> <\/span><span class=\"caps\">LNG<\/span>.<\/p>\n<p>Driftwood alone could nearly double American<span> <\/span><span class=\"caps\">LNG<\/span><span> <\/span>exports, as the industry<span> <\/span><a href=\"https:\/\/www.lngworldshipping.com\/news\/view,us-lng-export-capacity-to-more-than-double-by-end-of-2019_56271.htm\" rel=\"noopener\">currently has<\/a><span> <\/span>the capacity to export 3.6 billion cubic feet a day, according to the Energy Information Administration. Tellurian plans to pipe shale gas from Texas\u2019 Permian Basin and Louisiana\u2019s Haynesville shale through&#8230;<\/p>\n<\/div>\n<p><a href=\"https:\/\/truthout.org\/articles\/louisiana-offers-fossil-fuel-exporter-largest-local-tax-giveaway-in-history\/\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LNG tanker Arctic Princess.Rados\u0142aw Magiera \/ Flickr Louisiana plans to collect no industrial property tax from the $15.2 billion Driftwood liquefied natural gas (LNG) export terminal planned for its southwest corner, state officials announced in December. Critics say this tax break is worth $1.4 to $2.4 billion, making it one of the largest local corporate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":391436,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-391435","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/391435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=391435"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/391435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media\/391436"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=391435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=391435"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=391435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}