Carbon Sciences' Plan for Energy Security Confirmed by Major Louisiana GTL Project
Carbon Sciences Inc. (OTCBB: CABN), the developer of a breakthrough technology to make gasoline and other transportation fuels from natural gas and carbon dioxide, today announced that recent plans for a major project in Louisiana confirm that a gas-to-liquids (GTL) strategy is the country's best approach for energy independence.
Byron Elton, Carbon Sciences CEO, commented, "It is clear that using abundant, domestic natural gas as the feedstock for transportation fuels is an affordable and environmentally responsible way to advance energy security and stimulate economic growth. The main challenge in using this readily available resource is that natural gas cannot be pumped directly into our existing vehicles. However, with GTL technology America's vast reserves of natural gas can be converted into liquid fuels such as gasoline, diesel and jet fuel, which can be used directly in our cars, ships and planes. We believe that the proposed GTL facility in Louisiana is a step in the right direction for the U.S. and the world."
The proposed gas-to-liquids facility will be the first of its kind built in the U.S. It's expected to directly employ 850 workers (average salary: $89,000, not including benefits) and create nearly 4,000 indirect jobs.
Louisiana Governor Bobby Jindal said, "Without question, the Haynesville Shale and other unconventional natural gas plays are transforming the energy economy in the U.S." LSU's new economic impact study (commissioned by Sasol) reveals that the complex's construction alone will generate another $1.73 billion in additional business activity, and over 12,000 new jobs associated with $577 million in personal earnings during the five-year construction period. Once fully operational, the facility would lead to more economic activity in the state to the tune of nearly $919 million a year.
"We strongly believe that our country's energy policy must be based on the use of our own natural resources. Including oil, coal and natural gas, we sit on more potential energy than any other developed country in the world," Elton added. "It is foolish for us to continue to spend a billion dollars a day for foreign oil when we can keep that money right here at home. Carbon Sciences' breakthrough technology is aimed at reducing the cost of GTL fuels by lowering the cost of reforming natural gas into syngas, the important first step in the GTL process used by Sasol and other large energy companies. Also, because our technology consumes CO2 we not only make liquid fuels derived from natural gas cost effective, but we also make them cleaner and greener."
About Carbon Sciences Inc.
Carbon Sciences has developed a proprietary technology to make gasoline and other fuels from natural gas. We believe our technology will enable nations of the world to reduce their dependence on petroleum by cost-effectively using natural gas to produce cleaner and greener liquid fuels for immediate use in the existing transportation infrastructure. Although found in abundant supply at affordable prices in the U.S. and throughout the world, natural gas cannot be used directly in cars, trucks, trains and planes without a massive overhaul of the existing transportation infrastructure. Innovating at the forefront of chemical engineering, Carbon Sciences is developing a highly scalable, clean-tech process to transform natural gas into liquid transportation fuels such as gasoline, diesel and jet fuel. The key to this cost-effective process is a proprietary methane dry reforming catalyst that consumes carbon dioxide. To learn more about Carbon Sciences' breakthrough technology, please visit www.carbonsciences.com and follow us Facebook at http://www.facebook.com/carbonsciences.