45Q Tax Credit Implementation Update: IRS Releases Long-Anticipated Guidance, but Questions Remain

March 6, 2020 in Carbon Management Author: Patrice Lahlum

The Internal Revenue Service (IRS) recently released two pieces of guidance relating to the implementation of the reformed 45Q tax credit, relating to requirements defining beginning and continuous construction requirements for projects and a revenue procedure that establishes rules for business partnerships claiming the tax credit. Clarity and financial certainty on 45Q tax credit implementation is vital for carbon capture projects which­­ have a narrow window of time to begin before the credit’s January 1, 2024 deadline for beginning of construction.­­ Continue reading »

Major Announcements and Action Typify this Year’s CO2NNECT Conference

July 2, 2019 in Carbon Management Authors: Jill Rook, Patrice Lahlum

Heidi Heitkamp holding the Carbon Capture Blueprint

Leaders and stakeholders who are catalyzing carbon capture, storage, utilization, and removal efforts in the US recently gathered in Jackson Hole, Wyoming. Now in its second year, the CO2NNECT Conference, hosted by the Great Plains Institute (GPI), focused on what deliberate and strategic actions are needed for carbon capture, storage, removal, and utilization to reach its full potential as a national energy, jobs, and emissions reduction solution. Continue reading »

Federal 48A Tax Credit Reform Needed for the US to Maintain Global Carbon Capture Leadership and Reduce Emissions

May 1, 2019 in Carbon Management Author: Patrice Lahlum

The sun rising over the Earth

At a time when the rapid construction of new coal-fired power plants in China, India, and other emerging economies is contributing to significant global emissions growth, it is essential that the US continues to lead the way in commercial deployment of technologies to manage carbon emissions from existing power plants. Continue reading »

Treasury Action Needed on 45Q Carbon Capture Tax Credit Implementation

March 5, 2019 in Carbon Management Author: Patrice Lahlum

Columns and facade of the US Treasury

Proper implementation of the 45Q tax credit is crucial to realizing the significant carbon emission reduction, energy and industrial production, and job creation benefits that will come from economy-wide deployment of carbon capture technology. Congress enacted the reformed and strengthened 45Q tax credit—which is for the geologic storage and beneficial use of carbon captured from industrial facilities and power plants—more than a year ago as part of the Bipartisan Budget Act of 2018.

Continue reading »

Governors’ Partnership for Carbon Capture Releases Letter in Support of USE IT Act

November 19, 2018 in Carbon Management, News & Press Author: Patrice Lahlum

A recently formed governors’ group aimed at advancing the development and deployment of carbon capture projects and CO2 pipeline infrastructure across the United States sent a letter to Congressional leaders today urging passage this year of the bipartisan Utilizing Significant Emissions with Innovative Technologies (USE IT) Act, S. 2602. Continue reading »

It’s Time for Long-Term Planning for North Dakota’s Legacy Fund

March 19, 2018 in Carbon Management Author: Patrice Lahlum

the North Dakota Capitol buildingA handful of North Dakota state legislators recently put forth a proposal to tap into the principal of the state’s constitutionally-established Legacy Fund to establish a loan program for infrastructure projects.  The plan is expected to come before the 2019 State Legislature and will likely be one of many ideas and proposals that surface in the coming months which aim to utilize either the earnings or a portion of the principal of the Fund. Continue reading »

News Release: State Work Group Releases New Report on Carbon Capture & Electricity Markets

June 27, 2017 in Carbon Management, News & Press Author: Patrice Lahlum

Press Release Graphic

WASHINGTON, DC – A multi-state group co-convened by Wyoming Governor Matt Mead and Montana Governor Steve Bullock released a new report today outlining the opportunities and challenges for integrating power plants with carbon capture into the nation’s wholesale electricity markets. The State CO2-EOR Deployment Work Group works to expand carbon capture from power plants and industrial facilities for use in enhanced oil recovery with geologic storage (CO2-EOR). Continue reading »