Introduction: CO2-EOR vs. CCS
In recent years, the importance of carbon capture technology has grown significantly as a means to combat climate change. With the emergence and advancement of geologic technologies, and their application in the energy industry, many industrial companies are deploying both CO2 Enhanced Oil Recovery (CO2-EOR) and
One promising solution to climate change is Carbon Capture, Utilization and Storage (“CCUS”). CCUS involves capturing carbon oxides, primarily carbon dioxide (CO2), for permanent storage or potential utilization. Interest in CCUS increased after the Inflation Reduction Act (“IRA”) revamped Section 45Q of the US Tax Code to expand tax
Carbon capture and sequestration (CCS) is a highly effective means of reducing carbon dioxide (CO₂) emissions and mitigating climate change. This process, which has been utilized for decades, involves capturing CO₂ from sources like natural gas-fired power plants and then transporting it to underground storage facilities. The captured CO₂ is stored or sequestered in pore spaces of subsurface formations. A “pore space” in this context is typically defined as a subsurface cavity or void, whether naturally or artificially created, that can be used as a storage space CO₂.
Decarbonizing the energy economy and avoiding the worst effects of climate change is the order of the day in the Biden administration and state capitols nationwide. Most recently, the U.S. Environmental Protection Agency released a proposed rule aimed at further reducing carbon emissions from coal and natural gas-fired power plants. The proposed rule looks to
On February 8, 2023, the State of Minnesota enacted House File 7 (“H.F. 7”) to modify electric utility standards and revises the state’s goals for generating carbon-free electricity by 2040. As discussed below, H.F. 7 significantly modifies the legal frameworks that direct and incentivize future Minnesota electric sector developments and has implications for regional energy policy.