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WASHINGTON (June 13, 2017) – The American Chemistry Council (ACC) issued the following statement in support of the Capitalizing American Storage Potential (CASP) Act, introduced yesterday by Senators Shelley Moore Capito (R-W.Va.) and Joe Manchin (D-W.Va.).

“We applaud Senators Capito and Manchin for their commitment to realizing the exciting opportunities afforded by an energy storage hub. The Capitalizing American Storage Potential (CASP) Act will help expedite the development of new infrastructure in hydrocarbon-rich areas of the country and, in turn, spur new manufacturing investment and jobs.

“As noted in our recent report, creation of an Appalachian storage and distribution hub for natural gas liquids (NGLs) could draw nearly $36 billion in chemical and plastics industry investment and support more than 100,000 permanent jobs in the region by 2025. We urge prompt passage of the legislation so that America can build a stronger, more competitive economy.”

The CASP Act would make a regional storage hub eligible for the U.S. Department of Energy’s successful Title XVII loan guarantee program.

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