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- W40366990 abstract "For years enhanced recovery projects have been unfeasiable because they were costly, they took years to complete, and the technological knowledge just was not there. They are still costly and lengthy, but technology is catching up and the economic incentives have improved. The major incentive to begin an enhanced project is the price of oil. Several years ago when a barrel of oil sold for approximately $10, it took a lot of potentially recoverable oil to warrant an enhanced project. However, with uncontrolled oil selling for approximately $35/bbl, the economic picture has changed drastically. Oilmen also can receive additional economic incentives from the federal government within 2 projects involving enhanced oil recovery. The first allows producers to recoup 75% of the cost of using certain enhanced recovery techniques by charging market prices for controlled oil. The second provides a better tax rate on the crude oil Windfall Profit Tax (30% instead of 50% for independents and 70% for majors). The Federal Energy Regulatory Commission also recently gave special incentive price for natural gas produced from certain enhancement projects." @default.
- W40366990 created "2016-06-24" @default.
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- W40366990 date "1980-11-01" @default.
- W40366990 modified "2023-09-27" @default.
- W40366990 title "Economic incentives get better and better" @default.
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