Or is it the next money grab?
Troy Coons, founder of the Northwest Landowners Association, believes property owners need to be brought to the table.
“Good things still have to be done in a thoughtful way – not the wild, Wild West approach that we just got done with in the Bakken oil field,” says Mr. Coons, whose organization recently sued the state over a new law governing “pore space,” where carbon would be stored.
Questions still linger about how well carbon storage works. In 2020, a $1 billion coal carbon-capture plant in Texas sequestered 15% less carbon than was projected. The project was mothballed after three years because it wasn’t economically viable.
“You’ve got to develop the technology so you can make it pay in the free market,” says Sen. John Hoeven, who as the GOP governor of North Dakota laid the regulatory groundwork for carbon storage and later advanced tax credits for the technology. “We’ve got about a 10-year head start on everybody else.
Demand for oil is spiking. So why are North Dakota rigs lying idle?
Demand for oil is surging, but rigs in North Dakota are lying idle as the U.S. tries to figure out the future of its energy supply.
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Troy Coons, founder of the Northwest Landowners Association, believes property owners need to be brought to the table.
“Good things still have to be done in a thoughtful way – not the wild, Wild West approach that we just got done with in the Bakken oil field,” says Mr. Coons, whose organization recently sued the state over a new law governing “pore space,” where carbon would be stored.
Questions still linger about how well carbon storage works. In 2020, a $1 billion coal carbon-capture plant in Texas sequestered 15% less carbon than was projected. The project was mothballed after three years because it wasn’t economically viable.
“You’ve got to develop the technology so you can make it pay in the free market,” says Sen. John Hoeven, who as the GOP governor of North Dakota laid the regulatory groundwork for carbon storage and later advanced tax credits for the technology. “We’ve got about a 10-year head start on everybody else.