Description
THIS IS A VIRTUAL EVENT
A Supplementary and Critical Role for Industry Professionals to Include the Business of Emission Capture and Geologic Storage of Greenhouse Gases
Carbon Management has shifted from a politically charged, controversial objective to what some are now calling an International Imperative. The move to reduce the carbon dioxide (CO 2 ) emissions from industrial facilities has focused first on coal and is moving toward oil and natural gas and even from air itself with Direct Air Capture. No doubt the job of replacing hydrocarbon fuels will be difficult, time consuming, and challenged with economic sustainability but has reached a level where oil and gas professionals and, in fact, all of society and will need to respond. The talents that oil and gas professionals bring to this new world of energy are both essential and invaluable. Carbon Capture, Utilization and Storage will have to play a very large role and the U.S. is well positioned to affect both the speed of greenhouse gas capture and the ultimate security of storage.
Many incentives effectively establish a price on carbon emissions or atmospheric carbon removal. Programs are in place today, e.g., the enhanced 45Q Tax Credit (U.S. Treasury Department), the Low Carbon Fuel Standard in California, Emission Trading Credits in New England and the EU. Accelerated deployment of CO2 EOR is already happening for producing low carbon oil while storing CO2 . The volume of pore space for subsurface CO2 storage is enormous but the challenges ahead are finding low risk, high volume targets to insure permanent storage. The knowledge and talents of oil and gas professionals will greatly aid in site selection and designing the subsurface projects.