A project in the country's top coal-producing area seeks to pump the carbon dioxide produced by burning that coal back underground.
Fred McLaughlin, director of the Center for Economic Geology Research at the University of Wyoming, stands near one of two wells drilled near the Dry Fork Station coal-fired power plant outside Gillette, Wyo., on June 14, 2022. McLaughlin and other researchers are studying whether formations as deep as 10,000 feet can be used to store the power plants carbon dioxide emissions.
So far, removing carbon dioxide from power plant smokestacks and pumping it underground hasn't been feasible without higher electricity bills to cover the technique's huge costs. But with a $2.5 billion infusion from Congress last year and now bigger tax incentives through the Inflation Reduction Act passed by Congress on Friday, researchers and industry continue to try.
Besides the permit, the geologists will also need more funding. The U.S. Department of Energy Carbon Storage Assurance Facility Enterprise programSuch projects were likely already eligible for some of the roughly $2.5 billion in last year's infrastructure bill. Now the new Inflation Reduction Act will boost the “45Q” tax credit for electricity producers who sequester their carbon from $50 to $85 per ton.
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