Air Products Books $2.2 Billion Loss, Cancels $4.5 Billion Combo Hydrogen And "Carbon Capture" Project In Louisiana

[hatrack]

Political hostility and public distrust are likely to blame for the recent cancellation of the $4.5 billion Air Products & Chemicals Clean Energy Complex in Louisiana, according to industry analysts who see potential ripple effects for the petrochemical industry. Air Products announced Tuesday it has canceled the hydrogen manufacturing facility it had planned in Ascension Parish and an accompanying carbon capture project to transport and store carbon dioxide from the site under Lake Maurepas. All told, the company had plans to invest $8 billion in Louisiana.

Since it was announced in 2021, the project has faced increasing political headwinds, including the loss of clean energy tax incentives at the federal level and public resistance against carbon sequestration and industrial expansion at the local level, Baton Rouge-based economist David Dismukes said. “I’m not super surprised,” Dismukes said in a phone interview. “It became such a hot button political issue.”

In Tuesday’s announcement, Air Products said it will record a $2.2 billion after-tax loss for the third quarter largely related to its decision to terminate the Louisiana Clean Energy Complex. “I think that speaks volumes about the project, too, that you’re willing to walk away from $2 billion,” Dismukes said.

At the federal level, President Donald Trump’s hostility toward clean energy has prompted other companies to abandon similar projects. Exxon Mobil folded the low-carbon hydrogen plant it planned in Baytown, Texas, last year once the $332 million the Biden administration put behind the project was pulled. The Air Products proposal in Louisiana called for $8 billion in total investments, including roughly 170 permanent jobs at its Ascension site once it became operational. The company also planned other related facilities and spending to limit air pollution from its so-called blue hydrogen facility, one that uses fossil fuel to generate the gas and captures the CO2 it produces.

EDIT

https://lailluminator.com/2026/07/02/scrapped-air-products-project/

[NNadir]

1. None of the canceled plants had anything to do with "clean energy." Like hydrogen itself, they were intended...

...to greenwash fossil fuels, from which the bulk of the world's hydrogen is produced generally captive use.

Like all of the hydrogen toys advertised here as running "green hydrogen," the entire hydrogen scam, like the sequestration scam, is designed to entrench fossil fuels.