February 28, 2012
Senator Responds to New Report, Highlights Montana Energy Development Opportunities
(Washington, D.C.) – Montana’s senior U.S. Senator Max Baucus reaffirmed his call for Montana to lead the way toward the nation’s energy independence in response to new recommendations released today by a coalition of energy industry, environmental, state and labor leaders. The proposals came from a broad group of stakeholders, some of whom participated in Baucus’ 5th Montana Economic Development Summit where Baucus was instrumental in bringing some of the country’s foremost energy experts, including Energy Secretary Chu, to meet with Montana energy leaders and explore new ways to capture and develop the state’s vast energy resources, from wind to coal to oil and gas to biomass. Today’s recommendations are aimed at boosting domestic U.S. oil production while reducing the nation’s CO2 emissions.
“It’s a win-win for our outdoor heritage and for our energy future to look for ways to both develop more oil and get more carbon dioxide out of the atmosphere. Our economic development summits are designed to bring people together to come up with solutions for jobs and this is evidence that they work. From a CO2 pipeline and injection project under development in the Bell Creek oil field in southeastern Montana to an innovative public-private carbon sequestration project in the Kevin Dome in Toole County, Montana is helping to lead the way. I look forward to working with members of this initiative to make the existing federal incentives work better to promote a safer, cleaner and more prosperous American economy,” said Baucus, who as Chairman of the Senate’s tax-writing committee helped author the carbon sequestration tax credit in 2008. This incentive provides taxpayers up to $20 per ton to capture and permanently store carbon dioxide.
The Enhanced Oil Recovery Plan released by the National Enhanced Oil Recovery Initiative, the Great Plains Institute and the Center for Climate and Energy Solutions was welcomed with bipartisan support in Congress today.
Contact: Kate Downen 406-839-4713/Kathy Weber 406-329-7980/Jennifer Donohue 202-224-2651