Congressman Conaway Speaks at the National Enhanced Oil Recovery Initiative to Release Recommendations to Increase Domestic Oil Production & Reduce Emissions
Rep. K. Michael Conaway (R-TX) made the following comments during the National Enhanced Oil Recovery Initiative’s (NEORI) press conference today on Capitol Hill in Washington, DC.
“I want to thank all the participants in the National Enhanced Oil Recovery Initiative for their hard work over the past eight months. This project has yielded many new relationships, some surprising common ground, and a couple of good recommendations for Members of Congress to consider. I have no doubt that the groundwork NEORI has laid will pay dividends long into the future.
NEORI, a coalition of industry, state, environmental and labor leaders, began work in July 2011 on several policy proposals to stimulate the expansion of enhanced oil recovery using CO2 from power plants and industrial facilities. Today marked the release of their suggestions to the public.
In enhanced oil recovery (EOR), oil producers routinely inject CO2 into wells to draw more oil to the surface. The practice supplies 6 percent of current U.S. oil production and helps sustain production in otherwise declining oil fields, but limited supplies of CO2 constrain the expansion of EOR and its potential to increase our domestic oil supply.