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Appropriations panel agrees to split $6 million in SIF money for enhanced oil-recovery work and salt-cavern business case
Summary
The House Appropriations Government Operations division approved a plan to reallocate previously appropriated State Investment Fund (SIF) money: $4 million for an enhanced oil-recovery grant program and $2 million to the Energy and Environmental Research Center (EERC) to complete business-case analysis related to salt-cavern storage.
The House Appropriations Government Operations division discussed budget 04/2005 on the Industrial Commission and approved moving SIF money between line items to support enhanced oil-recovery work and further study of salt-cavern storage.
Committee members and agency staff told the panel the change is a reallocation within previously discussed funding. Committee Chairman Munson and Industrial Commission Executive Director Karen Tyler said $6 million of SIF money originally tied to salt-cavern work will be split: $4 million added into an enhanced oil-recovery grant program in section 10 of the worksheet and $2 million left with the Energy and Environmental Research Center (EERC) for business-case development related to salt caverns.
Why it matters: EERC officials and legislators said the salt-cavern work could attract industry investment — for petrochemical storage, propane peak storage or hydrogen — but commercial partners have not committed to drill or build caverns. EERC CEO Charles Garecki told the…
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