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Center for Climate and Energy Solutions
California has demonstrated leadership in setting ambitious goals for reducing greenhouse gas emissions by setting a target to reduce emissions to 40 percent below 1990 levels by 2030. While California is reducing emissions and expanding clean energy through many means, including a cap-and-trade program, the state appears to be underestimating the effectiveness and readiness of carbon capture technology and how it could help California reach its goal. In consensus comments on the California Air Resources Board’s (CARB) draft 2017 Climate Change Scoping Plan Update, a diverse group of nonprofits (including C2ES); environmental groups; and oil, gas, and ethanol companies outlined… [more]View Discussion
Denbury, a small energy resources firm focused on oil and natural gas, sees a bright future in enhanced oil recovery (EOR), a process that pumps CO2 into oil wells to release hard-to-reach oil. EOR has been promoted as a way to simultaneously address climate change and improve recoverable oil reserves. The company surprised many recently after it traded its Bakken Shale assets – some of the most productive in the country – to Exxon Mobil in exchange for $1.6 billion in cash and parts of Exxon Mobil’s Texas and Wyoming stakes. Denbury will instead focus on utilizing EOR in its… [more]View Discussion