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Thu March 4, 2004
Lawmakers Back New Oil Technology
Cheyenne, Wy – Squeezing more oil from Wyoming's aging fields is the goal of legislation sent to Governor Freudenthal Thursday.
Senate File 61 authorizes two-point-four-million dollars from the General Fund to expand research at the Enhanced Oil Recovery Institute at the University of Wyoming.
Freudenthal had asked for the funding in his State of the State Address, saying a "vast resource" remains untapped.
The governor's office has estimated that every one-percent increase in oil production creates nearly 100 jobs and adds two-million dollars to the state's coffers.
In addition, a task force has concluded that every state dollar appropriated to the institute attracts more than four dollars in federal and private research grants.
Much of the new research would focus on carbon dioxide, which can be pumped into depleted underground reservoirs to force out oil that can't be extracted conventionally.