"Selling carbon dioxide to oil and gas operators should boost the Penwell plant's revenues by about 50 percent. Miller says those sales will cover one-third of the revenues Summit will need to service the [debt]". So the enhanced revenues (r+.5r = 1.5r) are just enough to service the debt (3*.5r)? When does the plant start to make money?
Also, there seems to be some double-accounting here. If the capturing of the CO2 from burning the coal is counted as making the coal plant carbon-neutral, you shouldn't also count it as offsetting the emissions from burning the EOR oil.
When the farmers want a market for corn, the government spends billions to subsidize ethanol. When the oil industry wants a market for hydrogen (a byproduct of its current means to produce CO2), the government spends billions to reseach and hype the "hydrogen economy". Now, the oil industry wants to secure CO2 from coal-fired power plants and needs billions of government bucks to do that. Of course, carbon sequestration is a pipe dream like the overstated potential of ethanol or the impossible dreams of a hydrogen economy.
These government decisions are ERRORS, meaning the results will not be anything meaningful or useful. We need to stop corporate control of our government and slam the coffers shut. Energy policy should not be made based on the greed of agriculture or the oil industry or ill-fated, cost-prohibitive attempts to sequester carbon dioxide.
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