Archive for October, 2010

Carbon Dioxide for Oil Recovery Could be a $240 Billion Business

Posted by on Friday, 15 October, 2010

In what seems on the surface a little bit of a zero-sum solution, a British researcher has stated that oil recovery using carbon dioxide could be worth £150 billion (USD $240 billion) if acted upon immediately.

By using carbon dioxide to enhance the recovery from existing North Sea oil fields, the new calculation by Jon Gluyas, a Professor in CCS & Geo-Energy, Department of Earth Sciences, Durham University could yield an extra three billion barrels of oil over the next 20 years.

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