With the Inflation Reduction Act and potential new legislation on the horizon to incentivize carbon capture, Hart Energy took to the NAPE expo floor to ask attendees the question on everyone's mind: Will tax credits make carbon capture profitable in oil and gas? Here's what some of them had to say.
Denna Arias, chief corporate development officer, Opportune: Yes, maybe for the next four to six years. I don't know how sustainable will be over time, but right now there's, you know, there's billions of dollars going into that sector of the industry.
AJ O'Donnell, director of equity research, East Daley Analytics: We're not experts on on tax credits and carbon capture, but I anticipate if there's an incentive there, that, it definitely will help the industry.
Hesketh Streeter, executive vice president, Viking Engineering: So I think it's early days yet, but you know, you can see the Europeans are concerned with the, with this new bill because they think that it's going to give the U.S. a jump on that part of the business.
Andrew Graham, attorney at law, Steptoe & Johnson: Maybe it will make, maybe it will make carbon capture economically attractive to people that it wouldn't otherwise, but I think it certainly will drive growth because I think there is interest in it. Whether it's entirely just for oil and gas, I think is another question too, or will it be other kinds of companies that are drawn to carbon capture by those sorts of incentives?
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