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.