Posts tagged CCUS.
Time 3 Minute Read

Many involved in carbon capture utilization and storage (CCUS) policy foresaw several years ago the situation we are in now:  lots of Class VI Underground Injection Control (UIC) permit applications to store CO2, not enough speed at the US Environmental Protection Agency (EPA) to get them processed, and not enough speed by EPA to divvy up the work by delegating the permitting authority to the States. 

That’s why Congress included funding in the Bipartisan Infrastructure Law for Class VI UIC permitting:  $50 million for EPA to help States defray costs of taking over the Class VI permitting program and $25 million total for fiscal years 2022-26 for EPA itself to get the job done.

Time 3 Minute Read

On March 29 the US House of Representatives adopted by voice vote an amendment offered by Reps. Dan Crenshaw (R-TX) and August Pfluger (R-TX) to speed up Environmental Protection Agency (EPA) review of state applications for primacy to run the Class VI Underground Injection Control (UIC) program. The amendment was included in H.R. 1, the Lower Energy Costs Act, the high-profile energy and permitting reform bill the House approved on March 30.

The UIC program is designed to prevent endangerment of underground sources of drinking water from subsurface injections. The Class VI program specifically regulates the geologic sequestration of carbon dioxide, which is considered to be essential for the world to meet international emission reduction targets. 

Time 1 Minute Read

Last Friday, March 24, the White House Council on Environmental Quality (CEQ) announced the rosters for two task forces charged with providing input for the development of Carbon Capture, Utilization, and Sequestration (CCUS) programs. The task forces are a requirement of the Utilizing Significant Emissions with Innovative Technologies (USE IT) Act, passed in 2020 as a part of the Consolidated Appropriations Act, 2021, and will focus on CCUS with regard to permitting on private and federal  lands, including the Outer Continental Shelf. Members of the task forces include state and ...

Time 4 Minute Read

Below are some key points from two CCUS-related events in Texas last week: the annual CO2-EOR Conference in Midland, which has been going on for almost 30 years; and a symposium our firm hosted with the University of Houston on CCUS risk management. We’ll start with the latter.

Time 5 Minute Read

While the election results are not yet final, this article will proceed from the assumption that former Vice President Biden will become President in January and that Republicans will win at least one of the two U.S. Senate seats in Georgia to be decided by runoff, and thus will have a majority in the U.S. Senate.

Time 1 Minute Read

The Department of Treasury and Internal Revenue Service have released Notice 2019-32 seeking comment on key issues to be interpreted in the Section 45Q carbon oxide sequestration tax credit. Congress significantly enhanced the Section 45Q tax credit in the Bipartisan Budget Act of 2018, increasing the credit from $10/ton for CO2 used as a tertiary injectant (i.e., to produce oil or gas) to $35/ton; and increasing the credit for CO2 geologically stored but not used as a tertiary injectant from $20/ton to $50/ton. See our previous blog post here for additional details on the applicable credit amounts for projects before and after enactment of the Bipartisan Budget Act and other credit amount details.

Time 1 Minute Read

In an article published in Law360, two Hunton Andrews Kurth LLP Partners discuss the passage of the Bipartisan Budget Act of 2018 and its implications for Section 45Q of the Internal Revenue Code. Carbon capture and sequestration supporters expect this to significantly boost deployment of carbon capture and storage (CCS) across the US.

Readers can access the full article here.

Time 4 Minute Read

There are 7.6 billion people on the planet today. By 2050, there are projected to be 9.7 billion—or put another way, in just thirty years we will add the equivalent population of seven United States. The world’s most credible energy forecasting entities predict a global increase over that time not only in demand for energy, but demand for fossil energy. Even with steady increases in energy efficiency and a massive increase in renewables, consumption of fossil fuels will grow. That means carbon dioxide emissions won’t be reduced significantly without some technology to do so.

Time 4 Minute Read

As part of the Bipartisan Budget Act of 2018, Congress significantly increased and extended the Section 45Q tax credit for sequestration of carbon oxides. This has been a top priority of carbon capture and sequestration (CCS) supporters for several years.

CCS is considered to be essential to global efforts to reduce CO2 emissions. The world’s most respected analysis organizations all estimate that fossil fuel use will increase in the coming decades, even with energy efficiency improvements and vast increases in renewable energy. 

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