New legislation shows conflicting parties can agree on alternative energy measuresOctober 29, 2012
Alternative energy may be able to bring political parties together
More often than not, alternative energy is a political issue, especially in the U.S. and especially during election season. With presidential candidates vying for the affection of voters throughout the country, it can often seem like both of the country’s political parties are at odds. This could be a major problem for alternative energy as many projects in this field are heavily reliant on government aid. The election season has many questioning whether Democrats and Republicans can get along long enough to support alternative energy. According to a new legislation, the conflicting parties apparently have.
New legislation supports CO2-EOR process
Legislation dubbed S. 3581 aims to significantly reduce carbon emissions and provide more support for the development of domestic energy resources. This legislation was introduced early last month and aims to make changes to existing tax credits that concern carbon capture and oil recovery, often referred to as CO2-EOR. CO2-EOR is an oil production technique in which carbon dioxide is used to acquire more oil from fields that have already been developed. This process has been known to boost domestic oil production while also removing a significant amount of carbon emissions from the atmosphere.
Process relies on carbon capture techniques
Because the CO2-EOR process relies on carbon capture and storage techniques, it could have positive implications for the environment, thus federal lawmakers are looking to throw more support behind the issue. The legislation introduced last month has managed to win favor from both Republicans and Democrats, a seemingly rare and monumental feat in the realm of alternative energy. With support from both parties, the legislati8on is likely to find its way into federal law and have a significant impact on domestic energy production.
Though environmentally sound, process still promotes use of oil
Though the CO2-EOR process has environmentally friendly connotations because of its use of carbon capture techniques, it is still responsible for the production of oil. The U.S. has adopted an “all of the above” energy plan that has a strong focus on alternative energy, but guarantees that the country’s primary focus will remain on fossil-fuels for the foreseeable future.