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Capturing and Utilizing CO2 from Ethanol: Adding Economic Value and Jobs to Rural Economies and Communities While Reducing Emissions captured CO2 in oilfields through EOR, large net emissions reductions still result, even after accounting for the additional oil produced. Recent analysis from the International Energy Agency (IEA) shows that, after accounting for the additional oil produced and global market effects, every ton of anthropogenic CO2 delivered for CO2-EOR results in a 63 percent emissions reduction.5 This paper focuses on commodity use and geologic storage of CO2 from ethanol production through EOR, the most commercially-ready pathway that could scale rapidly with policy reform, as well as on storage in saline formations. However, other innovative technologies and processes are under development to transform CO2 directly into valuable fuels, chemicals and other valuable products. These alternative utilization options will benefit from the policies discussed in this paper, and they also have the potential to add value to ethanol producers, while reducing carbon emissions. Public policy is needed to overcome challenges to commercial deployment of carbon management in the biofuels industry. At today’s low oil prices, the cost of carbon capture, compression, dehydration and pipeline transport from ethanol fermentation exceeds revenue from selling that CO2 to the oil industry. While the costs of carbon capture from ethanol are low compared to most other industries, the heartland of U.S. ethanol production in the Central Plains, Upper Midwest and Midwest is geographically distant from large oil basins with the greatest potential for EOR and storage. This requires investment in large-volume, high-pressure pipelines needed to transport CO2 over long distances. Some ethanol production does occur in close proximity to suitable saline reservoirs, but saline storage provides no revenue from CO2 sales for EOR, offsetting the financial advantage of avoiding major pipeline investments. Fortunately, economic analysis completed for the Work Group suggests that federal and state financial incentives under consideration could help bridge the current cost gap in the marketplace and mitigate investment risk by incenting private capital to invest in carbon capture at ethanol plants and pipeline corridors to serve ethanol-producing regions. 5 International Energy Agency, Storing CO2 through Enhanced Oil Recovery, combining EOR with CO2 storage (EOR+) for profit, 2015. The Great Plains Institute and Improved Hydrocarbon Recovery, LLC modeled CO2 capture, dehydration, compression, and pipeline transport from Midwestern ethanol plants to oilfields for EOR under two illustrative scenarios: a pipeline network connecting 15 ethanol plants in Nebraska and Kansas to multiple oilfields in Kansas; and a regional-scale pipeline network linking 34 of the largest Upper Midwestern ethanol plants to the Permian Basin in Texas. The analysis finds a CO2 price in the range of $42 and $60 per metric ton (MT) is required across the two scenarios to cover CO2 capture, dehydration, compression and pipeline transport. The results of this analysis show that federal and state policies under consideration, coupled with revenue from the sale of CO2 for EOR, could help make deployment of carbon capture from ethanol production and CO2 pipeline infrastructure commercially feasible. The Work Group’s highest policy priority is extension and reform of the federal Section 45Q Tax Credit for Carbon Dioxide Sequestration, and legislation introduced in Congress to accomplish this enjoys unprecedented bipartisan support. The Carbon Capture Act in the U.S. House (H.R. 3761) and the FUTURE Act in the U.S. Senate (S. 1535) would provide investment certainty, increase the financial value, and enhance the eligibility and flexibility of a tax credit awarded for every ton of CO2 captured from industrial facilities and power plants and then stored geologically, or used beneficially in other ways that reduce emissions. Importantly, 45Q is performance- based, meaning that credits under the legislation can only be claimed for CO2 successfully stored in oilfields and other suitable geologic formations or otherwise put to beneficial use. While extension and reform of the 45Q tax credit is essential, other bipartisan legislation in the U.S. House and Senate would provide valuable complementary incentives to help deploy carbon capture in ethanol production and other industries. The Carbon Capture Improvement Act (S. 843 and H.R. 2011) would make carbon capture and utilization eligible for tax-exempt private activity bonds (PABs), and the Master Limited Partnership (MLP) Parity Act (S. 2005 and H.R. 4118) would extend eligibility for tax-advantaged MLPs to renewable fuels and to carbon capture and utilization. Passage of this legislation would benefit the biofuels industry. House and Senate 45Q bills pending in Page 7 Prepared by the State CO2-EOR Deployment Work GroupPDF Image | Capturing and Utilizing CO2 from Ethanol
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