Research and recovery organizations praise carbon capture legislation
Following the introduction of the Carbon Capture, Utilization and Storage Act in the U.S. Senate last week, the National Enhanced Oil Recovery Initiative (NEORI) and the Coal Utilization Research Council (CURC) praised U.S. Sens. Heidi Heitkamp (D-ND) and Sheldon Whitehouse (D-RI) for their work in support of commercial carbon capture projects and increased financial security for investors.
“We commend Senators Heitkamp and Whitehouse and their colleagues for continued leadership and support of carbon capture, use and storage,” Brad Crabtree, vice president for fossil energy at the Great Plains Institute and co-director of NEORI said. “The legislation provides a performance-based incentive to capture CO2, put it to productive use, and store it safely and permanently underground, helping to preserve and create good-paying jobs, increase U.S. oil production, and reduce emissions from the use of America’s domestic energy resources.”
Heitkamp and Whitehouse’s legislation would increase tax credit incentives for CO2 captured and stored from power plants, extending eligibility to a greater number of industries and facilities in more states.
“This legislation provides a critically-needed incentive for industry to invest in carbon capture technologies at power plants and industrial facilities that rely on coal, which will benefit both our nation’s energy security and the environment,” Shannon Angielski, executive director of CURC, said. “This legislation provides the policy support we need to accelerate carbon capture, use and storage.
