Carbon Mitigation and Economics for Energy Conversion When CO2 is Stored via Enhanced Oil Recovery

The carbon mitigation benefits and economics are described for alternative coal energy conversion options for which CO2 is captured and sold for enhanced oil recovery (EOR). Both the CO2 capture cost and internal rate of return on equity (IRRE) are considered as economic metrics. Post-combustion, oxycombustion, and pre-combustion capture options are considered for power generation, and pre-combustion capture options are also considered for making synthetic gasoline and for coproducing gasoline and electricity. In addition, coprocessing some biomass with coal is considered for plants coproducing gasoline and electricity. Findings for prospective crude oil prices are that: (i) the most profitable options using only coal are systems providing synthetic gasoline; (ii) systems coproducing electricity + gasoline are more profitable than any systems providing only electricity; (iii) options coprocessing some biomass will become the most profitable options at high GHG emission prices, and (iv) gasoline and coproduction plants, even sited remotely from CO2 EOR market opportunities, are likely to be competitive in EOR markets if an adequate CO2 pipeline infrastructure were in place; (v) coal/biomass systems coproducing gasoline + electricity are likely to be more profitable coal/biomass systems making gasoline for crude oil prices less than $75/barrel.