Carbon capture and storage (CCS) is the technological process of capturing carbon dioxide from a power plant or industrial activity and the storage of that captured carbon dioxide in an underground basalt formation, saline aquifer, depleted oil and gas reservoir, or sub-sea geologic formation.
Contains regulations specific to geologic carbon sequestration for the carbon offset program, including fees, application requirements, monitoring provisions, and eligibility limitations.
Creates a program to certify coal and natural gas-fired plants that capture and sequester 70% CO2 emissions for a “clean energy project” tax credit under Texas Tax Code § 171.602.
Provides rules for ownership of CO2 stored in geologic formations and creates a trust fund funded through fees paid by CO2 storage facility operators, used for monitoring, remediation, enforcement and other activities related to geologic CO2 storage.
Exempts CCS equipment used in a clean energy project from sales and use taxes, if the captured CO2 is either used in a local EOR project or sequestered in Texas for at least 1,000 years
Subchapter K tilted "Offshore Geological Storage of Carbon Dioxide" authorizes various state agencies to construct an offshore, deep subsurface geologic repository for carbon dioxide on state-owned land.
Establishes legal and regulatory framework for permitting of CO2 sequestration sites and empowers the Department of Environmental Protection to permit and monitor carbon sequestration sites.
This bill included $800 million for CCS technology for coal-fired plants, $1.52 billion for industrial CCS projects, and $1 billion for a stand-alone integrated power plant project incorporating CCS.
This paper aims to investigate the effects CCS has on the competitive situation in the European Union and propose solutions to some of the problems that will be identified.