One of the awardees is BP, which is receiving $33.4 million for two sites along the Gulf Coast in Texas. ![]() released about 5.5 billion metric tons of carbon dioxide in 2021, according to the Environmental Protection agency. The bulk of the money, $242 million, is going toward nine new or expanded large-scale carbon storage projects with capacity to hold at least 50 million metric tons of carbon dioxide, a tiny fraction of how much is put into the atmosphere. The awardees include universities, one major oil corporation, and come from several states, such as Texas, Illinois, Georgia and Wyoming. Department of Energy, with funds from the Bipartisan Infrastructure Law, which set aside $12 billion for carbon management projects. In some instances, the carbon dioxide is transported across states through pipelines and stored at facilities and used for other things. “We’re trying to get commercial lift off in the carbon management industry as a whole,” said Noah Deich, deputy assistant secretary for the Department of Energy’s Office of Carbon Management.Ĭarbon capture and storage involves removing carbon dioxide, either from the source of pollution or from the air at large, and storing it deep underground. ![]() ![]() Climate Envoy John Kerry, the government is increasing pressure on the carbon capture and storage industry to show that the technology can significantly help combat climate change. Meanwhile, many environmentalists note that the technology is far from scale and argue that focusing on it distracts from established renewable energy solutions.īetween the direct investments announced Wednesday, billions more earmarked from legislation and public statements by President Biden and U.S. The announcement represents a vote of confidence by the government in the nascent technology, which proponents, often from oil and gas industries, say could have a huge role in reducing emissions of greenhouse gases.
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