Alaska Carbon Sequestration

The Alaska house of representatives has passed bill HB 50, which, if passed by the senate will allow the state to set the parameters for CO2 sequestration by subsurface injection. Originally conceived as an income source for the state, the measure is now seen as a necessary process to guarantee financing of hydrocarbon development. State legislators believe that corporations attempting to develop state mineral resources will be unable to secure funding unless they are seen to be making an effective effort to curb CO2 emissions.