US Oil Supply Boost Hinges on Carbon Dioxide-Based Recovery Tech

Enhanced oil recovery (EOR) is a suite of techniques designed to maximize production from oil fields after conventional extraction methods have been exhausted. The process relies on changing the chemical properties of remaining oil by injecting gases into wells, which lowers viscosity and increases pressure.

Oxy, formerly known as Occidental Petroleum, is one of the companies leading the development of EOR technology, particularly carbon dioxide-based techniques. If applied to the US's massive shale oil resources, the effect could be a 50% increase in the current US oil supply or even more.

The increased oil production would likely extend US energy independence and exports for several more decades and reduce global reliance on Middle Eastern oil. A handful of US companies are working on EOR technology, with Oxy at the forefront.