On June 26, the Global CCS Institute hosted a webinar exploring proposed incentives to support CO2 capture for use in enhanced oil recovery during budget constrained times.
Patrick Falwell, Solutions Fellow with the Center for Climate Energy Solutions, discussed the details of NEORI’s proposals for enabling the expansion of CO2-EOR in the United States, while meeting fiscal objectives.
“Incentives are needed to cover the “cost gap” between EOR operator willingness to pay for CO2 and the cost to capture and transport CO2, especailly for the larger man-made sources of CO2,” explained Falwell. “NEORI’s analysis suggests that under existing tax treatment incremental CO2-EOR production will raise sufficient revenue to cover the cost of new incentives within a 10-year window.”
Ben Yamagata of the Coal Utilization Research Council also was a panelist during the webinar.
Click here for a link to the webinar’s presentations.