D. Beecy1, V. Kuuskraa2, and P. Dipietro3
1U.S. Department of Energy Office of Systems, Germantown,
2Advanced Resources International, Inc., Arlington, VA
3Energetics Inc., Columbia, MD
ABSTRACT: Economic Benefits of Carbon Sequestration R&D to the U.S. Economy and Oil and Gas Industry
Carbon sequestration has been identified as one potentially important way to achieve stabilization of greenhouse gas concentrations in the atmosphere while maintaining economic growth and increasing domestic oil and gas production. Yet, this is a challenging new field of science and technology that will require substantial R&D investments over an extended period of time. But, how much is worth spending? Which options appear most promising? And, how might the oil and gas industry participate and contribute?
For this, it is useful to examine the potential benefits to be achieved. The paper draws on projections of carbon-based and non-carbon energy consumptions to 2050 to frame the carbon emissions reduction challenge facing the nation. The paper then examines a series of technology advances and performance-based market incentives that would greatly reduce the economic impact to the nation of achieving a “pathway to stabilization” for carbon emissions. Among the options, “value-added” geologic sequestration -- injecting and storing carbon dioxide in oil reservoirs and deep coal beds - - offers one of the most promising alternatives.
AAPG Search and Discovery Article #90906©2001 AAPG Annual Convention, Denver, Colorado