{"id":3013,"date":"2018-09-20T08:45:44","date_gmt":"2018-09-20T12:45:44","guid":{"rendered":"https:\/\/saperemarketing.com\/clearpath\/?p=3013"},"modified":"2024-08-15T15:40:58","modified_gmt":"2024-08-15T15:40:58","slug":"making-carbon-a-clean-commodity","status":"publish","type":"post","link":"https:\/\/saperemarketing.com\/clearpath\/our-take\/making-carbon-a-clean-commodity\/","title":{"rendered":"Making Carbon a Clean Commodity"},"content":{"rendered":"\n
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ClearPath and the Carbon Utilization Research Council, with support from the mine workers and other unions, recently came out with a study<\/a> forecasting some really big benefits<\/a> that underscore the economic promise of using captured carbon from power plants for enhanced oil recovery: up to 780,000 new jobs and $190 billion in added GDP by 2040.<\/p>\n

By 2040, the study (using modeling provided by NERA Economic Consulting and Advanced Resources International) forecast between 17 to 87 GW of coal and natural gas power plants with carbon capture. And that, in turn, these plants could lead to up to 920 million barrels of increased annual production of domestic oil by 2040 (not to mention lower electricity rates)!<\/p>\n

Sound too good to be true?<\/p>\n

It probably does until you hear that market-driven capture is already taking place \u2013 and has been for nearly half a century in the United States and it all originated in Texas.<\/p>\n

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How does enhanced oil recovery create low-carbon oil?<\/span><\/p>\n<\/div>\n

Texans know a thing or two about getting oil out of the ground, which is why they are pioneers in carbon capture. The state is home to the oldest large scale carbon capture project (built in 1972), which can capture the equivalent emissions of over 100,000 cars every day from an industrial facility.1<\/a><\/sup><\/p>\n

Unsurprisingly, Texas didn\u2019t do it for environmental altruism \u2013 there\u2019s a clear economic benefit.<\/p>\n