A research lab dedicated to finding new ways to collect and use carbon dioxide is a step closer to becoming a reality.
The Legislature’s Joint Appropriations Committee has recommended that $15 million be set aside for the project, which would be located at one of Wyoming’s coal-fired power plants. The project would be a collaboration between the state, the University of Wyoming, and a power company.
A drilling rig operates near Rock Springs as part of a recent carbon dioxide storage site characterization project led by the University of Wyoming’s Carbon Management Institute. Project researchers discovered a vast new lithium resource in the underground brines of the Rock Springs Uplift.
Researchers with the University of Wyoming’s Carbon Management Institute have discovered a vast underground deposit of lithium in Southwest Wyoming. Researchers were taking deep samples in the Rock Springs Uplift to study how the state might store its oil and gas emissions when they discovered the reserve. They say it could hold up to 150 times more lithium than the nation’s current largest producer in Silver Peak, Nevada.
Wyoming Senator Mike Enzi is one of three U.S. legislators sponsoring a bill that would help ease the process for earning tax credits related to carbon capture.
The existing carbon capture tax credit offers a maximum of 150 million dollars total per year, or a national cap set at 75 million tons of carbon, to companies which capture or reuse greenhouse gases instead of releasing them into the air. The credit expires once that limit is reached. That breaks down to a credit of $10 per ton for enhanced oil recovery, and $20 per ton for carbon capture.