The project has broad economic benefits: 2,000 new construction jobs and 140 new operating jobs, new state and local taxes, local workforce training, and extension of the domestic oil production economy.

The project has broad economic benefits, including providing additional employment in the Kern County area generating millions of dollars from construction and during annual operations.  The project would also reduce exposure of the California economy to rising natural gas prices, by providing an alternative fuel for power generation.

But the project does have additional costs compared to a conventional power plant due to the additional investment and operating costs of carbon capture and sequestration.  However, HECA aims to be competative with other forms of low carbon power such as renewables. The use of the CO2 for enhanced oil recovery (EOR) creates an economic value for the CO2 off-take, partially offsetting the increased costs.

The additional oil recovered would generate additional tax revenues for the state and local governments, and it would also enhance California’s energy supply security, reducing the state’s dependence on foreign oil imports.