Texas Carbon Dioxide Well Bond

TexasThe State of Texas introduced a new law relating to anthropogenic carbon dioxide. The new law is titled SB 1387 and provides for the injection and geologic storage of anthropogenic carbon dioxide, which is carbon dioxide that has been stripped, segregated, or separated from any other fluid flow or was harvested from an emission source such as clean energy endeavors or industrial sources. The carbon dioxide is stored in injection wells, for which a permit is necessary, along with proof of financial accountability in the form of a performance bond or alternative financial security. The surety bond guarantees the proper plugging of a deserted well, or the availability of funds for plugging the well, post-injection site treatment, and closure of the location.