Washington, March 30 -- Congressman Ro Khanna issued the following press release:
Today, Representative Ro Khanna (CA-17) alongside Senator Jeff Merkley (D-OR) reintroduced the End Polluter Welfare for Enhanced Oil Recovery Act (EOR) to end the tax break rewarding the fossil fuel industry for using carbon capture for EOR. The legislation would reform one of the largest and most egregious domestic fossil fuel subsidies.
Fossil fuel companies currently receive a tax credit for injecting carbon dioxide into oil wells to extract more oil, a process known as enhanced oil recovery (EOR). The credit was expanded in 2022 and is part of the $34.8B (https://oilchange.org/publications/paying-for-climate-chaos-us-subsidies-fossil-fuels/) in subsidie...