As a party to the Paris Climate Agreement, the United States affirmed its continued commitment to significantly reducing carbon emissions by 2025. According to the Department of Energy and the International Energy Agency, achieving large CO2 reductions will require an “all of the above approach” with new and innovative energy technologies, such as carbon capture playing a primary role in any successful CO2 mitigation strategy.
Carbon capture and sequestration (CCS) have been receiving bipartisan support from a number of policymakers. In February Representative Mike Conaway (R-TX 11th Dist.) introduced a bill, which would expand and create a permanent tax credit for CCS. Senator Heidi Heitkamp (D-ND) also recently proposed that the CCS tax credit be expanded in order to provide greater access to federal funding for future coal projects. Supporters believe these policies would encourage development of large-scale CCS programs, revamp R&D efforts for carbon capture technologies and incentivize major CO2 producers to invest.
CCS advocates believe that a tax credit extension is critical since the current credits are capped preventing development of new projects. Fossil fuel coalitions and some environmental groups support the extension, arguing that CCS presents an opportunity to simultaneously continue production and curb emissions from coal and gas-fired power plants.
On the other hand, some view the tax break as an expensive subsidy for fossil fuels disguised as a climate solution, lacking the technology to back it up. Tax credit opponents issued a letter this month citing a number of examples where federal funding for CCS technologies proved to be a waste of taxpayer dollars yielding no environmental benefits. These opponents of the amendment forecast a $530 million cost in the next 10 years if the credit is expanded or the cap is removed. Other opponents of the tax credit argue that private investment in CCS is the best option for R&D and future energy markets.
To put CCS in perspective, the global average temperature for the first 3 months of 2016 was +1.5ºC above the pre-industrial average, Greenland reached 10% area melt in April for… Read more »
While I tend to advocate for “the more tools the better” when it comes to climate change, I’m increasingly questioning whether CCS really stands a chance. Obviously the days of… Read more »
Mark: Current CCS systems are indeed challenged from an economic perspective. Inventys quotes a figure of $20/ton for carbon capture (it’s about $35 with pressurization and injection in the ground).… Read more »
Carbon sequestration is an approach that replaces the global warming problem caused by CO2 dumping in the atmosphere with the highly uncertain long-term risks of burying the vast amounts (billions… Read more »
Henry: I agree that we should not encourage new fossil fuel power plants. In fact, we should be shutting them down. But that is not going to happen immediately and… Read more »
I don’t think the Fed’s can afford to subsidize CCS to all coal power plant locations. Look at Kemper County at $6.6 Billion and not completed yet, and FutureGen that… Read more »
Sid: Reusing CO2 is a great goal. In fact, there is a new XPrize competition to come up with economical uses of CO2 emitted from power plants: carbon.xprize.org/ Power plants… Read more »
I’m generally sympathetic with Dan Miller’s observations here. CCS is a high-risk area that potentially could be very beneficial. That is the sort of problem that warrants government support of… Read more »
Lewis: While it seems like it would be impossible to implement a carbon fee in the US based on our dysfunctional government, the same thing was said about the legalization… Read more »
Let me respond to a few of the comments above. Dan: The CO2 sequestered underground in the form of fossil fuels is obviously not the same risk as storing CO2… Read more »
Henry: I spoke to the leading expert on CO2 sequestration at Stanford, Sally Benson, and she told me that their is room underground for massive CO2 sequestration and it can… Read more »
In no way should sequestration be subsidized! It is like landfilling our money. Carbon Capture with utilization will be necessary but there are things available today that can be productive… Read more »
Geological sequestration of carbon by storing gas phase CO2 or supercritical liquid CO2 in geological formations or directly onto the sea floor would not be an environmentally sustainable option for… Read more »
Kenneth: There are certain geological formations where injected CO2 would turn to solids rather quickly:
https://www.technologyreview.com/s/411129/carbon-capturing-rock/
Dan: The article you referred to at https://www.technologyreview.com/s/411129/carbon-capturing-rock/ asserts that it is not a given that what the researchers had observed with the peridotite rock found in Oman, would happen in… Read more »
Kenneth: I am not implying that sequestration is well understood and ready to be rolled out on a massive scale. We need further research, development, and testing. But not pursuing… Read more »
Instead of subsidies for failure, prizes for achievement. Put a bounty on captured and cracked CO2 big enough to stimulate interest in a pioneering effort. The capture method should not… Read more »
Wilmot: Turning CO2 back into carbon and O2 requires essentially “unburning” the carbon. This takes as much energy as was produced by burning the carbon in the first place! The… Read more »
CCS could become a very important technology. The question is: who should pay for its development? Taxpayers or polluters? How do we justify that taxpayers should pay for the development… Read more »
Chi-Jen: If a carbon fee policy is put in place with a credit for certified sequestration, then polluters will pay for net emissions, which makes sense. This puts an incentive… Read more »
My understanding is that the statistics I cite above are from use of CO2 captured from CCS processes, not from underground repositories, so I think the idea of reducing carbon… Read more »
Will: I think you meant to reply to our thread below, but I will answer here. I do think that EOR using captured carbon provides a lower carbon footprint than… Read more »
Dan: The IPCC scenarios that assume a substantial role for carbon capture or NETS assume that there’s not substantial increases of carbon emissions associated with the process, so if there… Read more »
Recent studies that I’ve seen indicate one ton of CO2 used in EOR will roughly result in the production of 0.76 to 0.91 tons of equivalent CO2, which will ultimately… Read more »
Will: With “normal” EOR, fossil CO2 from a small number of natural reservoirs is injected underground to free up oil. Since that CO2 came from underground and went back underground,… Read more »
Taxpayers for Common Sense (TCS) is a non-partisan budget watchdog serving as an independent voice for American taxpayers. Founded in 1995, TCS seeks to achieve a government that spends taxpayer… Read more »
I concur with Autumn as my previous post suggests. There is certainly a difference of opinion between Will Burns and Dan Miller as to how much CO2 will be sequestered… Read more »
Here is some data: https://www.onepetro.org/journal-paper/PETSOC-02-09-05 2nd paragraph of Abstract: 558×10^6 m^3 oil produced with 1118 Mt CO2 sequestered. 558×10^6 m^3 = 3.51×10^9 barrels oil * 317 kg CO2/bbl = 1113… Read more »