Proudly Serving the Hulet and Devils Tower Community
Proudly Serving the Hulet and Devils Tower Community
The stimulus is intended to 'equalize' a federal tax incentive that rewards permanent CO2 storage over carbon dioxide used to produce oil
Crews set up a workover rig June 3, 2022, in the Salt Creek oil field where carbon dioxide from ExxonMobil's Shute Creek facility was injected for enhanced oil recovery.
A measure that would provide a $10 million "stimulus" to encourage more carbon capture for use in the oil industry will advance to the upcoming legislative session following a special hearing this week by the Joint Minerals, Business and Economic Development Committee. The stimulus, according to committee members, aims to enhance a federal tax credit program that they say favors direct storage of the greenhouse gas over pumping it into oilfields to produce hard-to-get reserves.
"The intent of this bill is simply to level that playing field so that that [oil] producer is in the same position fi...
