Sidebar: Can incentivize more CI oil, gas production

Kay Cashman

Petroleum News

In a Nov. 13 guest editorial for PN’s annual Producers magazine, then Acting DNR Commissioner Akis Gialopsos wrote that in the longer term “Cook Inlet’s substantial pore space represents an opportunity for the state to pursue carbon capture, utilization and storage, but unlike carbon taxes or offsets, a CCUS regime would literally monetize the storage of carbon molecules in now depleted reservoirs, and in some cases even utilize the carbon for indirect energy generation.”

“Combined with federal tax credits and substantial market interest, CCUS can incentivize further oil and gas development and create new vacant areas to store carbon from other parts of the world,” Gialopsos said.

“Alaska is joining a process that other energy producing states such as Wyoming and Louisiana have already embarked upon, with promise of prolonging the oil and gas market in the Cook Inlet through this and other innovations.”