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House Committee advances CO2 enhanced‑oil‑recovery stimulus; bill seeds projects with $10 million loan and redirects severance tax to repay program
Summary
The House Committee of the Whole reported Senate File 17 do pass after debate on a proposed state stimulus to encourage carbon dioxide‑based enhanced oil recovery (EOR); the measure seeds projects with $10 million in loan funds and pays $10 per tonne of CO2 delivered to in‑state EOR projects, to be repaid from severance taxes on the new production.
The Wyoming House Committee of the Whole recommended Senate File 17 do pass after debate focused on how a state stimulus could encourage CO2‑based enhanced oil recovery (EOR) in legacy fields.
Representative Knapp, explaining the bill, said federal tax incentives (the 45Q tax credit) created an uneven market that favored permanent sequestration over EOR because permanent sequestration carries a higher federal tax credit. SF17 aims to level the playing field so CO2 remains available for Wyoming EOR projects:…
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