The concurrent resolution recognizes the significant benefits of enhanced oil recovery (EOR) in North Dakota, particularly in relation to the Bakken Formation, which is a major energy resource producing 1.2 million barrels of oil per day. The resolution highlights the substantial contributions of the oil and gas industry to the state's economy, including approximately $8 million daily in tax revenues and the creation of well-paying jobs. It emphasizes that current oil recovery methods only tap a fraction of the Bakken's potential, and that EOR could unlock billions of additional barrels of oil, extending production for decades. Additionally, the resolution acknowledges the importance of the coal industry in North Dakota, which supports thousands of jobs and has been proactive in developing carbon capture technologies.
The resolution calls on both the State of North Dakota and the federal government to maintain and promote favorable policies that support the development of carbon capture technology and the utilization of carbon dioxide as a commodity. It urges the federal government to create incentives for the use of carbon dioxide in enhanced oil recovery and to strengthen partnerships with North Dakota's energy industries to advance these technologies. The resolution aims to align with the goals of achieving energy security and dominance, while also ensuring the continued growth of North Dakota's energy sectors. Copies of the resolution are to be forwarded to key federal officials and members of the North Dakota Congressional Delegation.