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The Economics of Enhanced Oil Recovery: Estimating Incremental Oil Supply and CO2 Demand in the Powder River Basin

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  • Klaas van 't Veld
  • Owen R. Phillips

Abstract

Expanding the use of CO2-enhanced oil recovery (EOR) promises to both significantly increase recovery from existing U.S. oil reserves and possibly form a bridge to large-scale CO2 capture and sequestration. An important input into planning for such expansion are estimates of how both the supply of incremental oil and the derived CO2 demand from EOR are likely to vary with the prices of oil and CO2. We demonstrate how the “analog” method of predicting oil and CO2 flows can be used to readily generate such estimates, and apply the method to Wyoming’s Powder River Basin.

Suggested Citation

  • Klaas van 't Veld & Owen R. Phillips, 2010. "The Economics of Enhanced Oil Recovery: Estimating Incremental Oil Supply and CO2 Demand in the Powder River Basin," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 31-56.
    • Handle: RePEc:aen:journl:2010v31-04-a02
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    Cited by:

    1. Cabrales, Sergio & Bautista, Rafael & Benavides, Juan, 2017. "A model to assess the impact of employment policy and subsidized domestic fuel prices on national oil companies," Energy Economics, Elsevier, vol. 68(C), pages 566-578.

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    JEL classification:

    • F0 - International Economics - - General

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