The National Enhanced Oil Recovery Initiative (NEORI) is a coalition of industry, state, environmental, and labor leaders convened by the Center for Climate and Energy Solutions (C2ES) and the Great Plains Institute (GPI). NEORI has released consensus recommendations to boost domestic oil production and reduce carbon dioxide (CO2) emissions from power plants and industrial facilities through expanded carbon dioxide enhanced oil recovery (CO2-EOR).
In CO2-EOR, oil producers inject CO2 into existing wells to draw more oil to the surface, a process which leads to the permanent underground storage of CO2 over time. CO2-EOR sustains production in otherwise declining oil fields and currently accounts for over 300,000 barrels per day (around 4 percent of U.S. oil production). Due to constraints on natual supplies of CO2, expanding CO2-EOR requires capturing more CO2 from man-made sources using innovative carbon capture technologies.
In 2014, Sen. Jay Rockefeller introduced the Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 (S. 2288), a bill that adopts key provisions of NEORI's consens recommndations to expand and reform the existing Section 45Q Tax Credit for Carbon Sequestration. An expanded 45Q program will incentivize the development of numerous carbon capture projects, while generating net federal revenue to cover the cost of new incentives within the first 10 years. NEORI estimates that the new 45Q credits allocated would generate more than 8 billion barrels of oil, while storing 4 billion tonnes of CO2 underground over 40 years.
- Bob Perciasepe, C2ES President, speaks at the launch of a bipartisan U.S. Congressional CO2-EOR Caucus by Reps. Conaway (R-TX), Harper (R-MS), and Veasey (D-TX).
- NEORI welcomes the inclusion of proposed tax credits for carbon capture utilization and storage (CCUS) in President Obama's FY 2016 budget.
- Patrick Falwell, C2ES Solutions Fellow, and Brad Crabtree, Vice President at GPI, authored an article on NEORI for Cornerstone.
- In November 2014, Sen. Heidi Heitkamp (D-ND) co-sponsored S. 2288.
- Sen. Jay Rocekfeller introduced the Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 (S. 2288) on May, 5 2014.
- On May 15, 2014, Patrick Falwell discussed the NEORI recommendations at the Atlantic Council's CCS Facts and Policy Forum on Capitol Hill.
- Judi Greenwald testified on July 25, 2013, before the U.S. House Committee on Science, Space and Technology, Subcommittee on Energy, on "The Future of Coal: Utilizing America's Abundant Energy Resources." Click here to read her written testimony. Click below to view video of her testimony.
NEORI Recommendations Adopted by Sens. Conrad, Enzi, and Rockefeller in 2012 Legislation (S. 3581)
- NEORI praised the introduction of bipartisan legislation (S. 3581) to encourage American oil production using carbon dioxide. The bill adopts NEORI’s recommendations to modify the existing Section 45Q Tax Credit for Carbon Dioxide Sequestration. It was introduced Sept. 20 by Sen. Kent Conrad (D-ND) with Sens. Mike Enzi (R-WY) and Jay Rockefeller (D-WV).
- Bloomberg editors mention NEORI recommendations in context of 2012 elections
- Bloomberg editors endorse NEORI's production tax credit recommendations
NEORI Recommendations Release – February 28, 2012
NEORI Launch – July 17, 2011