NEORI applauds introduction of bipartisan private activity bond legislation

by NEORI on November 19, 2015

The National Enhanced Oil Recovery Initiative (NEORI) recognizes U.S. Senators Michael Bennet and Rob Portman for their leadership and support for deployment of carbon capture technologies at power plants and industrial facilities. NEORI thanks the Senators for their introduction of legislation to authorize private activity bonds (PABs) for carbon capture projects. Access to tax-exempt private activity bonds will provide project developers an important tool in a broader toolkit of measures needed to help attract private investment and finance carbon capture projects. The industry, labor, environmental, and state representatives of NEORI support federal policies to lower economic barriers to capturing carbon dioxide from power plants and industrial facilities for use in enhanced oil recovery (CO2-EOR), and look forward to working on a bipartisan basis with Senators Bennet and Portman, their colleagues in Congress, and the President to advance legislation that will increase American oil production, create jobs and economic growth, deploy innovative carbon capture technologies, and safely store CO2 underground.

Link to Portman/Bennet press release

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