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 and the Great Plains Institute . In 2012, NEORI released recommendations to boost domestic oil production and reduce carbon dioxide (CO2) emissions through the expanded use of enhanced oil recovery (EOR).
In CO2-enhanced oil recovery (CO2-EOR), oil producers inject CO2 into existing wells to draw more oil to the surface. The practice helps sustain production in otherwise declining oil fields and currently accounts for 5 percent of U.S. oil production, but is constrained by limited supplies of CO2. NEORI recommends state and federal incentives to encourage the capture of CO2 from industrial and power facilities, which otherwise would go into the atmosphere, for use in enhanced oil recovery.
On May 5, 2014, Sen. Jay Rockefeller introduced the Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014, 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 CO2 capture projects, while generating net federal revenue to cover the cost of new incentives within the first 10 years. NEORI projects 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.
- Sen. Jay Rocekfeller introduced the Exanding Carbon Capture through Enhanced Oil Recovery Act of 2014 (S. 2288) on May, 5 2014.
- On May 15, 2014, Patrick Falwell, C2ES Solutions Fellow, discussed the NEORI recommendations at the Atlantic Council's Atlantic Council's CCS Facts and Policy Forum on Capitol Hill.
- Judi Greenwald, C2ES Vice President for Technology and Innovation, testified 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 Release – February 28, 2012
NEORI Launch – July 17, 2011