Black into green: A BIG opportunity for North Dakota’s oil and gas producers

2019-04-15T15:46:42+00:00April 10th, 2019|

Our Co-founder, David S. Vogel, with renowned MIT professors David D.J. Taylor and Alexander Slocum, and MIT student Mariya Layurova have discovered a way to apply carbon economics to oil and natural gas producers in North Dakota (ND). Their published report shows that these companies have an opportunity to make a profitable transition to wind energy. ND’s oil and gas producers can fund this black into green (BIG) transition by: first, investing a fraction of their revenues into wind energy farms; and second, reinvesting a portion of revenues from the wind-generated electricity. Here are the five (5) main summary findings from the report.

Finding #1: The business inertia of hydrocarbon production can accelerate wind energy production.

Finding #2: BIG’s wind farm is funded from 10% of hydrocarbon revenues and $0.03/kWh of wind power.

Finding #3: Emissions-to-price ratio makes BIG funding feasible for oil and natural gas in ND.

Finding #4: Over 40 years, ND’s oil and gas can fund 89,000 wind turbines, generating 155GW.

Finding #5: This wind power offsets 100% of the well-to-wheel emissions of ND’s oil and gas.

 

Read the entire report here: https://doi.org/10.1016/j.apenergy.2019.03.158