End Polluter Welfare for Enhanced Oil Recovery Act of 2024

This bill eliminates a tax credit for using carbon dioxide (CO2) in enhanced oil recovery (EOR) operations. It amends the Internal Revenue Code by removing Section 43 (the EOR credit) and modifying Section 45Q to prohibit the credit for new facilities starting construction after the law's enactment. The primary effect is ending the federal tax incentive for oil companies that inject CO2 to extract more oil from existing wells. This change directly affects oil and gas companies planning new EOR projects using CO2, as they will no longer qualify for this specific tax credit.