TO THE MEMBERS OF THE UNITED STATES CONGRESS:
The United States is in the nascent days of an energy revolution that is not only creating millions of new jobs, generating billions in new government revenue, and adding hundreds of billions in new economic growth, but also making our energy future more secure every day. This unconventional energy boom has been driven by a technological revolution created with American innovation and ingenuity. This spirit of innovation has also produced technology that could not only makes the U.S. more energy secure, but also create major environmental benefits.
Enhanced Oil Recovery (EOR) is a technique that has been used for decades to produce additional oil from mature fields, where conventional development is no longer efficient. One of the primary EOR techniques is the injection of carbon dioxide (CO2), a common chemical compound used for everything from food production to medical applications, into the rock formation to mix with the oil and make it easier to recover. The Department of Energy has estimated that EOR using CO2 can provide up to an additional 137 billion barrels of domestic oil production—more than five times the current amount of U.S.-proved oil reserves.
Historically, industry has used natural CO2 sources found deep in the Earth, but to advance this technology and to expand EOR production, it is increasingly utilizing man-made CO2 that is produced as part of a variety of industrial processes. As such, this technique is capturing CO2 that might otherwise be released in the atmosphere AND permanently and safely storing it in the Earth, AND enabling significant new oil production at home—a win-win-win.
The Institute for 21st Century Energy at the U.S. Chamber of Commerce has produced a primer, CO2 Enhanced Oil Recovery, to explain the EOR process and benefits and encourage its inclusion in energy policy and energy security considerations. EOR will be a tremendous resource for our country if we allow it to reach its potential.
If you have any questions or would like to discuss EOR further, please do not hesitate to contact me at 202-463-5558.
Sincerely,
Karen A. Harbert
President & CEO
Institute for 21st Century Energy
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