BISMARCK, N.D. (AP) — North Dakota’s biggest oil driller says it will commit $250 million to help fund a proposed pipeline that would gather carbon dioxide produced by ethanol plants across the Midwest and pump it underground for permanent storage.
Billionaire oil tycoon Harold Hamm’s Continental Resources was scheduled to make a formal announcement of the investment into Summit Carbon Solutions’ $4.5 billion pipeline Wednesday morning at an ethanol plant in North Dakota.
The plant is one of 31 ethanol facilities across Iowa, Minnesota, Nebraska and the Dakotas where emissions would be captured and piped to North Dakota to be buried.
Continental officials say they have no plans to use the gas for enhanced oil recovery.
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