Momentum for carbon capture in the United States
We’re thrilled to report that Occidental Petroleum and White Energy are working together on an economic feasibility study to capture CO2 from White Energy’s Hereford and Plainview Ethanol plant, transport it to the Permian Basin where Occidental would use it in its Enhanced Oil Recovery operations, as they recently announced.
This carbon capture project would be designed to be eligible for 45Q tax credits and California’s Low Carbon Fuel Standard Carbon Capture and Storage protocol, both currently in development, demonstrating that these incentives result in near-term investment, reduced CO2 emissions and jobs.
Occidental is an industry leader in applying CO2 EOR technology. This technology can increase oil recovery by 10 to 25 percent in the fields where it is employed, while at the same time permanently sequestering the CO2 in the reservoir. The U.S. Environmental Protection Agency (EPA) approved Occidental’s two Monitoring, Reporting and Verification (MRV) plans for CO2EOR fields in its Permian Basin operations. These plans, which were the first-ever approved by EPA, demonstrate that the captured CO2is safely and permanently stored and establish a framework to quantify the amount of CO2sequestered.