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Recommended Modifications to the 45Q Tax Credit for Carbon Dioxide Sequestration
Introduction The National Enhanced Oil Recovery Initiative (NEORI) recommends that Congress consider implementing a revenue-positive federal production tax credit to support deployment of commercial carbon dioxide (CO2) capture and pipeline projects. A new, more robust federal incentive is needed to …
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CO2 Enhanced Oil Recovery: A Critical Domestic Energy, Economic, and Environmental Opportunity
Introduction Amidst economic uncertainty, fiscal crisis and political division over energy policy, carbon dioxide enhanced oil recovery (CO2-EOR) offers a safe and commercially proven method of domestic oil production that can help the United States simultaneously address three urgent national …
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Enhanced Oil Recovery & Agriculture
Agricultural industries and communities can benefit from selling CO2 to meet the growing demand for CO2 to boost domestic oil production. The agriculture sector can supply high purity, manmade CO2 to access domestic oil resources in existing oil fields. Agriculture industry opportunities for capturing CO2 to spur …
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Enhanced Oil Recovery Safety
Where does the CO2 come from and where does it go? Today, most of the CO2 used in EOR operations is from natural underground ‘domes’ of CO2. With the natural supply of CO2 limited, man-made CO2 from the captured CO2 emissions of power plants and industrial facilities can be used to boost …
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Enhanced Oil Recovery Economic & Job Benefits
Does Increasing CO2-EOR Create Jobs? Yes. Workers will be needed across the full CO2-EOR value chain: from building and operating CO2 capture systems at power plants and other industrial facilities, to constructing new pipeline networks to transport CO2, to retrofitting and giving …
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Enhanced Oil Recovery Environmental Benefits
How does EOR reduce CO2 emissions? Using CO2 captured from power plants and industrial sources to enhance oil production has the potential to help the U.S. reduce its emissions by improving the CO2 intensity of the industrial and power generation sectors. Over the life of …
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Enhanced Oil Recovery Overview
How does CO2-EOR work? CO2-EOR works most commonly by injecting CO2 into already developed oil fields where it mixes with and “releases” additional oil from the formation, thereby freeing it to move to production wells. CO2 is separated from the …
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Greenhouse Gas Accounting Framework for Carbon Capture and Storage Projects
Greenhouse Gas Accounting Framework for Carbon Capture and Storage Projects February 2012 Download the full report (PDF) Press Release Other Resources: Climate Techbook: Carbon Capture and Storage Factsheet Foreword Meeting the global challenge to reduce greenhouse gas (GHG) emissions …
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Development of a Policy Framework for CO2 Carbon Capture and Storage in the States
This paper presents the background and policy issues surrounding development of a commercial market for captured carbon dioxide (CO2), and seeks to foster among policymakers a deeper understanding of 1) both the generation and carbon capture and storage (CCS) technologies …