On the surface, getting a law put in place designed to facilitate the enormous economic opportunity Texas has where carbon capture, use and storage (CCUS) is concerned would seem like a no-brainer. Recent studies have pointed out that Texas and Louisiana are the two states whose geology presents the biggest potential opportunity to become home to the storage of an enormous volume of captured CO2. Most believe the Gulf Coastal region ranks among the biggest potential CCUS prizes in the world.
Companies like ExxonMobilXOM +0.2%, Talos EnergyTALO +1.6%, Occidental PetroleumOXY -0.4% and others have been busy developing plans to exploit Texas’s unique combination of industry, existing infrastructure and geologic pore space as soon as the rules are clarified. And the public is on-board as well. A poll conducted last year by the Carbon Neutral Coalition found that 66% of Texas voters support CCUS in the state, while just 19% oppose it.