Carbon Capture & Conversion (CCS) Journal
Carbon Capture Journal is specifically about developments with industrial scale carbon capture and geological storage technology, with news about the major projects and development with government policy. The magazine, print and pdf versions and newsletter have over 6,000 subscribers. It is produced by the team behind Digital Energy Journal, one of the world's leading magazines and news services for information technology in the oil and gas industry.
- Mar. 2016
Zero carbon oil` is defined as oil which causes zero net CO2 going into the atmosphere. In practise it could be achieved in two ways - by
sequestering CO2 in the ground into the reservoir oil is being pumped from (enhanced oil recovery) so that the CO2 in and CO2 out
of the reservoir is balanced; or by an oil company paying for carbon capture and storage elsewhere (as Shell was planning to do, with
the Peterhead project).
The motorists would pay the same price at the pump for gasoline however it is made - we work on the basis that most motorists don`t care enough about zero carbon oil to pay more for it - but the reduction in gasoline tax compensates for the increase costs of producing
zero carbon oil.
An added benefit is that it gives the UK oil and gas industry some protection against lower cost Middle East operations (lower cost because the reservoirs are much easier to extract oil from). There is a special market in `zero hydrocarbon oil` which the UK could dominate.
As `zero hydrocarbon oil` spreads around the world, the UK companies would have the necessary expertise which they could then sell around the world. It would be a story of reinventing the British oil and gas industry to create something high value - in the same way that the British car industry has reinvented itself to make Aston Martins.