Proposed carbon pipeline could provide multi-billion dollar boost to Midwest
A recent study shows a proposed pipeline that would transport carbon across five Midwestern states could add nearly $4 billion to the economy.
“This project is about the future of agriculture and ethanol.”
Jake Ketzner with Summit Carbon Solutions tells Brownfield farmers in Nebraska, Iowa, North and South Dakota will be able to sell corn at higher values to 32 ethanol plants who sequester carbon at a site in North Dakota. “Our ethanol plant partners will be able to see a dramatic decrease in their carbon intensity score which will allow them to sell their product on the low carbon fuel markets for a premium.”
The study from Ernst & Young shows that the 2,000-mile pipeline connecting 32 ethanol plants through those states would have a total investment of $3.7 billion dollars and create nearly 12,000 jobs during construction.
The study says that the project’s annual expenses will exceed $170 million and Ketnzer says that money would go directly to rural communities. “We’re going to be paying millions of dollars a year annually to counties, which our pipeline will be running to help benefit the local schools, roads and so on.”
If operational, the pipeline would support over 1,000 jobs.