West of Mpls MN about 50 miles on Hwy 12 | It's not matter of if, but when...follow the big oil money.
Privately owned CO2 pipelines will go through just like privately owned Canadian tar sand oil pipelines that are used to export oil through and out of the USA for private profit. Oil companies like Exxon are backing CO2 capture and CO2 pipelines. Oil companies wrote the modern/revised version of eminent domain rule books used to steal land.
https://www.exxonmobilpipeline.com/en/emerging-fuels-pipelines/co2-p...
To help develop their CCS systems, companies that produce CO2 are working with oil and natural gas companies since they are experts at transporting and storing gases. These systems will require building carbon capture equipment at the source, pipelines to carry the captured carbon away from the source and wells to inject the CO2 safely and permanently underground...the article forgot to mention oil companies use CO2 to frack the last remaining drops of oil and LNG from depleted oil and LNG wells.
This a pretty long, informative piece of oil company funded propaganda that does a good job of selling EOR using CO2...I encourage forum users to click on the link and read the entire big oil sales pitch.
https://www.netl.doe.gov/sites/default/files/netl-file/co2_eor_prime...
Historically, the focus in CO2 enhanced oil recovery is to minimize the amount of CO2 that must be injected per incremental barrel of oil recovered, especially since CO2 injection is expensive. However, if carbon sequestration becomes a driver for CO2 EOR projects, the economics may begin to favor injecting larger volumes of CO2 per barrel of oil recovered, i.e., if the cost of the CO2 is low enough.
The United States leads the world in both the number of CO2 EOR projects and in the volume of CO2 EOR oil production, in large part because of favorable geology. The Permian Basin covering West Texas and southeastern New Mexico has the lion’s share of the world’s CO2 EOR activity for two reasons: reservoirs there are particularly amenable to CO2 flooding, and large natural sources of high purity CO2 are relatively close. However, a growing number of CO2 EOR projects are being launched in other regions, based on the availability of low cost CO2.
For years, ExxonMobil Corp. has sold CO2 from its La Barge, Wyoming gas processing facility to area oil producers for use in CO2 EOR projects (see map). The company currently captures 4 million metric tons of CO2 per year for this purpose.
Oil companies have been receiving government subsidies since 1979 for EOR efforts.
It is important to recognize that much of the CO2 EOR development that has occurred in the U.S. might not have happened (or might not have happened as quickly) without the introduction of tax credits and other fiscal incentives to help offset the large financial risks. As a means to help boost domestic oil production, the federal tax code has had some sort of incentive for tertiary recovery since 1979, when crude oil was still under federal price controls. Incentives were codified with the U.S. Federal EOR Tax Incentive in 1986, and CO2 EOR production growth subsequently grew rapidly. This incentive is a 15 percent tax credit that applies to all costs associated with installing a CO2 flood, the purchase cost of CO2, and CO2 injection costs. In addition, eight states have introduced some form of tertiary oil production tax incentives related to the value of the incremental oil produced. Texas, which produces more than 80 percent of all U.S. CO2 EOR oil, provides a severance tax exemption on all the oil produced from a CO2 flooded reservoir.
The potential impact of CO2 EOR is not so much a matter of whether but of when. The process works, there is plenty of residual oil in many reservoirs, and there is plenty of carbon dioxide available from a variety of sources.
There is also an important public relations and regulatory aspect to the speed with which CO2 flooding spreads beyond its current boundaries. Although the places CO2 flooding will be applied are by definition places
where oil has already been produced and people are familiar with oil production activities, in some of these areas the concept of carbon dioxide injection is not well understood. It is important that stakeholders (citizens,
investors, regulators, landowners, elected representatives) understand the science behind CO2 flooding, so that decisions can be made based on facts.
Exxon/Mobil is actively/aggressively campaigning LNG as cleaner power source than coal as well.
Edited by CMN 3/6/2024 01:26
|
Fighting the Eminent Domain Takeover of Farms and Ranches
