Concerns arise in Texas about earthquakes and blowouts undermining carbon storage

From Investing.com: 2024-12-13 19:11:53

Texas is seeing a surge in interest from companies wanting to bury carbon dioxide in oilfields, making the state a leader in fighting climate change. Concerns arise about earthquakes and well blowouts in the Permian Basin due to CO2 injections. The Biden administration’s 2022 Inflation Reduction Act includes subsidies for CCS projects. Trump’s transition team did not comment. Permit applications for carbon injection in Texas have increased by 63%. Challenges with wastewater disposal persist in Texas, with leaks and blowouts from orphan wells. The RRC is seeking authority to oversee its own permitting program for carbon sequestration. Trump’s victory increases the chances of Texas getting this authority. The Stratos project in Ector County aims to inject 8.5 million metric tons of CO2, raising concerns about abandoned wells erupting. Occidental spokesperson William Fitzgerald says safety measures have been undertaken for the project. A pilot project by ADM in Illinois has had leaks and setbacks, highlighting concerns about CCS technology. Large leaks could acidify groundwater and pose risks to public health.



Read more at Investing.com: Earthquakes and blowouts undermine case for carbon storage in Texas By Reuters