There’s a growing demand for carbon dioxide in the oil industry for enhanced oil recovery which could play a key economic driver for the state if the CO2 is used to produce more oil thus increasing revenue through severance taxes.
The Joint Minerals, Business and Economic Development Committee is proposing a stimulus to encourage CO2 capture for use in enhanced oil recovery (EOR). The bill would create a $10 million fund administered by the Wyoming Energy Authority, which provides $10/tonne of captured CO2 to 45Q-qualified parties that capture carbon dioxide for use in tertiary oil production.
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