Last week, the Louisiana First Circuit Court of Appeals overturned a lower court decision and reinstated a permit for Formosa’s proposed petrochemical complex in St. James Parish, reports the Institute for Energy Economics and Financial Analysis.
The decision reverses a lower court ruling that demanded closer scrutiny of the project’s potential to cause a discriminatory health impact due to industrial air pollution saturation.
Formosa has not issued a final investment decision (FID) that would give the corporate go-ahead for the project. The reinstatement of the Louisiana permit has not reversed the series of negative economic factors that plague the project. An IEEFA analysis has indicated the project is financially unviable based on fundamental market factors. Read more.
