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Home»Stock Market»Earthquakes and blowouts undermine case for carbon storage in Texas By Reuters
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Earthquakes and blowouts undermine case for carbon storage in Texas By Reuters

December 15, 2024No Comments3 Mins Read
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By Valerie Volcovici and Leah Douglas

(Reuters) – Texas is experiencing a surge in interest from companies looking to store carbon dioxide in its oilfields, positioning the state at the forefront of a government-supported initiative to combat climate change.

However, the injection of CO2 into the ground could potentially worsen earthquakes and well blowouts in the Permian Basin, where Texas is already struggling with wastewater disposal issues, potentially eroding public support.

Virginia Palacios, the executive director of Commission Shift, a Texas watchdog group advocating for stricter oversight of the oil and gas industry, warned, “Without proper regulation of underground injection in Texas, we anticipate more incidents like geyser-like well blowouts, sinkholes, leaks from wells, and injection-induced earthquakes.”

While such consequences have been rare in the history of CO2 injection, the unprecedented scale of carbon burial being proposed is causing concern among activists and researchers.

Carbon sequestration plays a crucial role in the U.S. government’s emissions reduction targets to combat global warming. The Biden administration’s 2022 Inflation Reduction Act includes significant subsidies for Carbon Capture and Storage (CCS) projects.

Despite President-elect Donald Trump’s plans to dismantle the IRA, energy experts believe that CCS subsidies will likely continue due to bipartisan backing.

Several companies, including Occidental Petroleum, are planning to capitalize on IRA subsidies for CCS projects, particularly in Texas, where the geological conditions are deemed favorable for waste storage.

Permit applications for carbon injection in Texas have surged by 63% over the past year, making the state a leader in the field.

However, Texas faces challenges related to the disposal of drilling wastewater underground, with issues such as leaks, blowouts, and earthquakes stemming from water injection, as acknowledged by the Texas Railroad Commission.

Concerns have been raised by Texas landowners and researchers regarding the need for enhanced oversight of proposed CO2 projects to mitigate environmental and safety risks.

The Texas Railroad Commission is seeking authority from the EPA to manage its own permitting program for carbon sequestration to expedite approvals, a move that is under review by the EPA.

Trump’s victory is expected to increase the likelihood of Texas obtaining this authority, following North Dakota’s precedent during Trump’s first term.

One of the significant projects in Texas is the Stratos direct air capture joint venture in Ector County, which aims to inject 8.5 million metric tons of CO2, raising concerns about the risk of erupting abandoned wells due to increased underground pressure.

While Occidental Petroleum assures that extensive surveys have been conducted to ensure safety, concerns remain about the proximity of orphan wells to the project site.

There have been reports of leaks and setbacks in a pilot project by agribusiness ADM in Illinois, highlighting potential challenges with CCS technology.

Experts have warned of the risks associated with CO2 injection, including corrosion of well casings and the potential for earthquakes.

Large leaks could pose threats to groundwater and public health, emphasizing the need for rigorous monitoring and oversight of CCS projects.

Overall, the push for carbon sequestration in Texas reflects the growing emphasis on sustainable practices to combat climate change, but it also underscores the importance of addressing associated risks and ensuring effective regulatory oversight.

sentence: Please rewrite the sentence so that it is more clear.

blowouts Carbon case Earthquakes Reuters Storage Texas undermine
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