Getting climate, energy & environment news right.

Fracking Billionaire Harold Hamm Plans To Reverse Course And Pump Millions Of Tons Of Carbon Into The Earth

Christopher Helman of Forbes writes on Harold Hamm’s investment in carbon capture.

The C3 Take
  • Harold Hamm’s Continental Resources will invest $250 million into a $4.5 billion carbon capture project.
  • The project, which will span across five states, will capture 8 million tons of CO2 per year that will be stored a mile under North Dakota farmland.
  • Construction for the pipeline that will transport carbon will start in 2023, with first injections beginning in 2024.
  • Private sector leadership is creating a more sustainable future.

“To make sure farmers and ranchers are taken care of, the state granted carbon sequestration rights to the surface owner—so they’ll collect ‘rent’ from the carbon dioxide molecules stuffed in the section of sandstone under their land. For a state that gets half its revenue from oil and half from agriculture, says Burgum, ‘This ties it together.'”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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