Shell nixes plans for Gulf Coast plant

The Houston Chronicle reports Royal Dutch Shell announced on Thursday it will not build a massive gas-to-liquids plant for Louisiana.

The oil giant said poor economics for the project scuttled the plans. The plant would have cost more than $20 billion.

It would have turned natural gas into diesel, jet fuel and other liquids.

The New York Times gives their take on Shell's decision here.

The move by Shell appears to be a blow to the company's ambitions in natural gas technology, the Times reported.