The latest land grab by oil and gas companies? It’s the storage of carbon dioxide and the big energy giants are eager to lease land for deep storage of CO2.
Just as Oklahoma farmers and ranchers experienced high dollar leases offered to them several years ago when the STACK and SCOOP plays gave birth to big oil production, their counterparts in South Texas and parts of Louisiana are seeing the same money being waved at them.
The Wall Street Journal reports the deep storage land grab is the result of huge U.S. subsidies passed last year.
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