Statements of Support for CO2-EOR Legislation

by NEORI on May 5, 2014

Statements on the Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014:

“We commend Senator Rockefeller for his ongoing efforts to drive progress in advanced and near-zero-emission coal technologies.  Coal is an essential American resource – affordable, reliable and abundant.  With this bill, the Senator is seeking to establish a pathway to a better energy future – one that enables Americans to continue to benefit from coal’s great attributes, while delivering on the environmental objectives we all share.” Deck Slone, Senior VP Strategy & Public Policy, Arch Coal

“This is good, common-sense legislation. Using compressed CO2 in oil recovery offers the environmental benefits of reducing carbon emissions, as well as the economic and energy security benefits of a more efficient oil recovery process.” Todd Werpy, Senior Vice President, Research and Development, Archer Daniels Midland

“Clean Air Task Force strongly supports the expansion of federal tax incentives for enhanced oil recovery (EOR) through the use of carbon dioxide (CO2). These incentives will help spur the further deployment of proven technologies to capture and store COfrom power plants and industrial sources.  Carbon capture and storage is a critical-path technology for addressing climate change and EOR with CO2 will help reduce the costs, encourage new infrastructure and increase the development of innovative new technologies.” Kurt Waltzer, Managing Director, Clean Air Task Force

“Core Energy supports any industry or process that seeks to reduce CO2 emissions through capture technology that will make the CO2 available for enhanced oil recovery operations.  Increasing domestic oil production is good for the economy and it is a critical national security matter.  The legislation proposed by Sen. Rockefeller is a good step towards making more CO2 available for enhanced oil recovery.” Robert G. Mannes, President & C.E.O., Core Energy, LLC

“Although there is heated debate over EPA’s regulatory approach to power sector decarbonization, everyone should be able to agree that enhanced oil recovery is a uniquely productive way to drive innovation and infrastructure investments in carbon capture and sequestration technologies. Productive use of CO2 through EOR turns the regulatory model inside out, creating real markets for clean coal technologies while substantially improving American energy security.” Samuel Thernstrom, Executive Director, Energy Innovation Reform Project

CO2-EOR is an important economic, energy, and environmental solution in Illinois and around the United States. Incentivizing carbon capture at power plants and industrial facilities creates jobs, spurs investment in innovative technologies, and addresses environmental concerns about the on-going use of fossil fuels.” Doug Scott, Chairman, Illinois Commerce Commission

“Leucadia Energy strongly supports Senator Rockefeller’s bill to provide an enhanced tax incentive to projects that capture CO2 for use in Enhanced Oil Recovery.  Leucadia Energy has been developing multiple projects that integrate carbon capture into industrial gasification projects and use enhanced oil recovery as a means of utilizing captured CO2.  These projects are expensive cutting edge technologies that are integrated with CCS to achieve the lowest emissions available.  The capture and beneficial use of CO2 cannot be accomplished without major investments in EOR infrastructure.  Financing these projects are a challenge, but the tax incentives contained in the Senator’s bill will go a long way in making EOR opportunities affordable and in allowing these technologies to become widely deployed and commercially available.” Hunter Johnston, Counsel to Leucadia Energy 

“We really appreciate the Senator’s leadership on this important issue.  The technologies that this bill supports play two critical roles. They capture and sequester carbon dioxide emissions while enabling increased domestic oil production. Congressional passage of this bill will have a long-term positive impact on the environment and our energy security.”  Claus Nussgruber, Vice President, Clean Energy – Americas, Linde 

“As a leading U.S. provider of CO2 for oil field services, Praxair strongly supports common sense reforms to the 45Q Tax Credit for carbon dioxide capture.  These reforms are meaningful steps in promoting the growth of an important industry that provides significant economic and environmental benefits.” Tony Wallace, Vice President Energy Services, Praxair Services, Inc.  

“We at the SMART-Transportation Division applaud Senator Rockefeller for his leadership in Introducing legislation to reform the current 45Q tax credit. This legislation will provide the necessary incentives to develop CCS technology and work to reduce the carbon footprint of our nation’s fossil energy resources. This legislation is a strong step toward ensuring that fossil resources, like coal, will have their carbon captured and be used cleanly enough to maintain their role in the U.S. energy mix for decades to come.”  John Previsich, President, Smart-Transportation Division, formerly the United Transportation Union

“It’s rare to see a piece of legislation that results in multiple benefits — in this case, a cleaner environment, high-wage job creation, a stronger, more energy independent nation —  but also more than pays for itself. Sen. Rockefeller understands that the key to making capture and storage of CO2 mainstream is to make it financially appealing instead of burdensome, and this legislation accomplishes that — both for project developers and the federal government.”  Laura Miller, Director of Projects, Texas, for Seattle-based Summit Power Group and former Mayor of Dallas


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