Green Scissors , a conservative think tank which supports Friends of the Earth , has filed an information request for IRS records on the carbon dioxide tax credit . The 45Q CO2 tax credit includes a $ 20 tax credit for each ton of CO2 captured and stored underground and a $ 10 credit for each ton of CO2 captured and used in enhanced oil - recovery projects . As some lawmakers are seeking to expand the credit , Green Scissors ' request – for information about the number of credits for oil extraction – is intended to show how the credit has impacted the US oil and gas industry .
Green Scissors, a US think tank which includes Friends of the Earth, has filed an information request for IRS records on the carbon capture tax credit. The 45Q CO2 tax credit provides a $20 tax credit for each ton of CO2 captured and stored underground and a $10 credit for each ton of CO2 captured and used in enhanced oil-recovery projects. As some lawmakers are seeking to expand the credit, Green Scissors' request – for information about the number of credits for oil extraction – is intended to show how the measure has benefited the US oil and gas industry.