The Next Shale Revolution?

[Valin]

The Weekly Standard:

The astonishing promise of enhanced oil recovery

Dec 29, 2014, Vol. 20, No. 16

SAMUEL THERNSTROM

 

Just five years ago, almost no one outside the natural gas industry had heard of fracking, even though the basic technologies were not new; today, the shale gas revolution has transformed America’s energy markets, with profound effects for economic growth, competitiveness, security, and environmental quality. In a nation still deeply concerned about its energy future, this extraordinary success story should prompt the question: Can we do it again?

 

The answer is yes​—​if we correctly understand both the model for innovation that shale gas exemplifies and an opportunity that now exists to emulate the shale model. That opportunity involves exploiting a technique called “enhanced oil recovery” (EOR).

 

 

(Snip)

 

One might think that such a remarkable technology would be an overnight sensation. But in fact, we are nowhere near capitalizing upon EOR’s full potential. Since the 1970s, oil companies have injected about a billion tons of carbon dioxide into “depleted” wells, producing roughly 2.5 billion barrels of oil. About 6 percent of the oil produced in America is now extracted using this technique. We know it works​—​but it’s still a niche market.

 

What’s holding us back? A shortage of carbon dioxide. The carbon dioxide used in EOR operations is predominantly geologic​—​companies tap into underground deposits and extract CO2 for enhanced oil recovery and other commercial applications. That’s how it’s been done since the 1970s, but two important things have changed in recent years. Climate change has become the preeminent environmental concern, and new studies have shown that there is much more oil reachable through EOR than had been previously understood​—​so much so that geologic carbon dioxide supplies aren’t nearly sufficient. If we want to get that oil, we’ll have to capture carbon dioxide from industrial sources, such as coal-fired power plants.

 

Which brings us to the interesting place we find ourselves today: Our nation’s top environmental goal is reducing carbon dioxide emissions. And one of our top energy priorities is maximizing production from domestic oil reserves. Capturing carbon dioxide from power plants and using it for EOR could produce billions of barrels of oil while simultaneously putting billions of tons of carbon dioxide underground forever. Yet policymakers are doing next to nothing to take advantage of this unique opportunity. Instead, Washington is preparing to fight a pitched legal and political battle over proposed EPA power plant regulations that will, even if implemented, make barely a dent in America’s carbon emissions.

 

(Snip)

 

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[clearvision]

How to collect the CO2 from all the "pollution" sources and get it to the oil fields though? A CO2 pipeline across state lines? Ha.