GILLETTE, Wyo. — The $700 billion federal bailout package includes tax credits that could be beneficial to Wyoming’s energy economy.
The bailout provides tax credits for carbon sequestration, the use of carbon dioxide in oil and gas recovery and the production of jet fuel derived from coal.
Carbon dioxide is thought by some to be a major contributor to global warming, and coal-burning power plants are a major source of the pollutant.
Capturing and storing the CO2 underground, known as carbon sequestration, is the focus of research to keep it out of the atmosphere.
Brad Enzi of North American Power Group, a company building a coal power plant near Gillette, says the tax credits should help finance future coal technologies and could make those more financially viable than they are now.
