This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Basin Electric Project Still Seeking CO2 Customers

DALE WETZEL

BISMARCK, N.D. (AP) â¿¿ Basin Electric Power Cooperative is searching for customers to buy the carbon dioxide it plans to retain in an experiment to reduce emissions of the gas from its Antelope Valley power plant, a company official said.

Curtis Jabs, a senior lobbyist for the Bismarck-based electric power producer, said Wednesday engineering work to determine the design and cost of the project should be completed late next month. Basin's board of directors will probably decide before year's end whether to go ahead with the project, Jabs told a North Dakota legislative committee that oversees energy development.

One crucial element is whether Basin can find customers for the carbon dioxide that would be captured from one of Antelope Valley's two 450-megawatt generating units, he said. A potential buyer is the oil industry, which uses carbon dioxide to increase production in some geologic formations.

"I think without enhanced oil recovery, it's going to be very difficult financially," Jabs said.

Designers hope the project will be able to capture up to 1 million tons of the gas annually.

The legislative committee's chairman, Sen. Rich Wardner, R-Dickinson, said he believed a surge in carbon dioxide demand was in the offing for western North Dakota's oil industry.

"All of a sudden, they'll find the technique, and you better be ready," Wardner said.

The U.S. Agriculture Department has committed a $300 million loan for construction of the Antelope Valley project, and the federal Energy Department has offered a $100 million grant. A coal research fund controlled by North Dakota's Industrial Commission provided $2.7 million for the engineering work, which will cost about $6.7 million.

Basin Electric Power Cooperative provides wholesale electric power to rural electric cooperatives in nine states. One of its subsidiaries, Dakota Gasification Co., operates the Great Plains Synfuels Plant near Beulah, in west-central North Dakota.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $112.76 -0.47%
FB $89.41 -1.80%
GOOG $618.25 -1.92%
TSLA $249.06 0.23%
YHOO $32.25 -2.70%

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs