Monday, May 08, 2006

McMoRan sure backed down quick.

The Daily Advertiser :
"After being hit by a veto from Louisiana’s governor, an energy company said today that it would alter the technology of a proposed liquefied natural gas terminal in order to alleviate environmental concerns and win approval of the project.

McMoRan Exploration Co.’s plan for the Main Pass Energy Hub was rejected Friday by Gov. Kathleen Blanco, who said it was not clear whether the terminal’s technology — using billions of gallons of seawater annually to heat the supercooled gas brought in by tanker ships — would harm valuable commercial fisheries in the Gulf of Mexico.

Under federal law, the governor had the right to reject the proposal. She made her decision two days before the deadline.

New Orleans-based McMoRan said it would alter its plan and use natural gas, rather than seawater, to warm the liquefied gas — a process the company said would be much more expensive and put a squeeze on tight natural gas supplies."

If it was so easy for McMoRan to change course, why didn't they simply do this in the first place? Were they playing chicken with the Gulf environment?

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