In news that could please oil companies and Green activists alike, the U.S. Department of Energy released a report claiming that using carbon dioxide to enhance oil recovery could be beneficial for the economy and the environment. The process uses gas injection to pump CO2 into a well and recover 30 to 60% of the field’s oil, instead of just 20 to 40%. This could translate into 137 billion barrels of additional domestic oil, or enough to reduce U.S. oil imports by one-third. And for those worried about global warming, the process could use and store the CO2 from nearly 100 large coal-fired power plants operating for 30 years.
March 1, 2013 by David Rothbard,
David Rothbard is co-founder and President of CFACT.