The United States of Oil

By John Lippert - 2013-04-02T12:33:57Z

Photograph by Spencer Lowell/Bloomberg Markets

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The Business of CO2

Whiting Petroleum runs a CO2 EOR processing plant in the Permian Basin of west Texas. Whiting relies on purchases of naturally produced CO2 to dislodge the oil sent to this plant. The company also has a contract starting in 2016 to buy some of the CO2 produced during the first 10 years from a coal-fired power plant that Seattle-based Summit Power Group is planning near Odessa. Roosevelt Resources LP, a privately held company based in Dallas, also will get a portion of the plant's CO2 output during the first 10 years and the entire output after that.