Students to benefit from state land carbon capture, storage leases

Austin—Texas Land Commissioner Dawn Buckingham, M.D., and the School Land Board (SLB) awarded six carbon capture and sequestration (CCS) leases that will generate over $130 million in signing bonus payments for the Permanent School Fund (PSF), a constitutionally created fund that helps support public education. Over the course of the 30-year term of these CCS leases, the PSF is estimated to receive over $10 billion. 

“As a steward of 13 million acres of precious, energy-rich state land, I am proud to award these carbon capture and sequestration leases,” Buckingham said. “These 30-year term leases will generate billions of dollars in revenue for Texas’ schoolchildren. As a mom, I have long said that educating our children is the most important thing we do. I am proud to play such a vital role in ensuring Texas children receive the best possible education.”

Buckingham is committed to utilizing state land in order to benefit Texas students and ensure Texans remain leading the nation in energy production. These six leases will cover approximately half a million acres in state-owned waters along the coast.