But...the Earth Firsters and AGW kooks will nix this idea. They want TOTAL SHUTDOWN of all modern technology and conveniences, then mass exterminations to bring the world’s population down to around 250,000,000.
And they’ll start with US.
Do you guys buy the central contention of this article. See below.
.................................
A positive forward was taken when NRG Energy (NYSE: NRG ) announced earlier this week that it began construction on a billion dollar retrofit to its East Texas coal-fired power plant. While the project is being underwritten in part by $167 million from the Department of Energy, NRG Energy sees it being self-liquidating as the carbon dioxide that is captured will be used to yield a 30-fold increase in oil production from an aging oil field NRG Energy also co-owns.
NRG Energy expects this process will improve the production at its West Ranch oilfield from a meager 500 barrels of oil per day to 15,000 barrels of oil per day at its peak. Put another way, at current oil prices that field will go from producing about $18.2 million worth of oil each year to well over half a billion dollars of black gold per year.
Is this the first time a large scale version of this process has been tried?
Yea carbon credits.
“But thanks to technological advances in carbon capture and storage we’re beginning to see new investments that are directed to cleaning coal and using the captured carbon to produce more oil.”
I would strongly caution anyone in this business that “carbon capture” is the pure invention of progressive government seeking ecological Utopia. As such, it grossly distorts the market price of the things its touches. If you are in this business, you are not serving your creditors or shareholders well unless and until you have a contingent plan for when (not if) the case for carbon capture collapses and the price of CO2 returns to a more truthful value.
is this….sorta plausible…? :/
I have a better idea:
Remove all liberal democrats from all positions of power.
Matt DiLallo is a Moron of the First Order and a lackey to hedge fund short selling jerks. He does no primary research, and is a complete propagandist paladin mercenary— in this case, funded by the global warming bullshitters.
CO2 is a highly dangerous and toxic chemical, isn’t it? I mean, its production will cause the end of the world, as I am told.
So oil can absorb a lot of gasses like propane and natural gas. If they pump enough CO2 into the well they can extract more oil than is really there. A large proportion of the crude oil will be CO2 dissolved in the oil.
I hope it works out. Freeing up more oil from domestic reserves makes the USA that much stronger.
There is that nasty carbon dioxide again.
For those who couldn’t see through the sponsored obfuscations and distractions, coal-fired plants are being shut down in favor of natural gas interests. Very expensive. Power plant costs and energy prices are going to go sky high.
With total shutdown of modern tech, the extermination would largely take care of itself.
It’s called tertiary recovery and it is not a new concept. A few fields in the panhandle were doing it in the late 80’s right before the Saudi price bust that caused a lot of outfits to walk away from a lot of fields in the 90’s.
Bookmark.
There are three major carbon dioxide accumulations in North America. One is north of Jackson, Mississippi. One is in northeastern New Mexico. The other is in southern Colorado. I believe tertiary recovery has been going on from those fields, primarily in the Permian Basin and Mississippi, since the 1970’s. The problem is that they are running out of CO2. This is talking about capturing the byproducts from the power plants. Now that I think about it, the deep Madden Field in Wyoming has a lot of CO2. Usually, it is a nuisance in natural gas fields and has to be removed before transmission.