Emission regulations require that companies planning new olefin crackers in EPA designated nonattainment areas like Houston must buy emission credits prior to construction. The market for credits in Houston for one criteria pollutant – volatile organic compounds (VOCs) skyrocketed from $4.5K/ton in 2011 to $300K/ton this month. The scarcity of emission credits and their rising price threaten to constrain or delay new petrochemical plant builds and will continue to hamper plant development and expansions in the Gulf Coast region. Today we describe the challenge new projects face.
Bio:
Mr. Taylor has over fifteen years of experience in environmental trading, brokerage and consulting in emission reduction credit programs, carbon programs renewable energy certificates, and federal and regional allowance programs. Mr. Taylor was US Emissions Trader with Louis Dreyfus Energy Services and prior to that he was the Senior Trader in Coal and Emissions with NRG Energy where he was responsible for optimizing the emissions portfolio for the 20,000 MW fleet and adding incremental value through trading in the environmental markets. He has transacted over a billion dollars’ worth of environmental credits in his career. Prior positions held by Mr. Taylor in emissions and energy trading industry includes Senior Vice President at an environmental services firm, CRAI and Enron. He currently serves on the board of Gulf Coast Chapter of the Air & Waste Management Association. He served three years on the Board of Directors of the Environmental Market Associations. Mr. Taylor holds a Bachelor of Science in Finance, summa cum laude, from Louisiana State University.
Position:
President at Emission Advisors, Inc.
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