US launches $3.5 billion gamble on ‘carbon removal’ tech

CO2 is not pollution

Carbon removal? Nature does that job. Carbon pollution? Plants and vegetation require carbon dioxide to grow. Investing? They must be joking. Subsidising foolish ideas isn’t much of an investment.
– – –
The US Energy Department launched a program on Thursday to fund four large-scale projects across the country that can remove carbon dioxide from the air, investing $3.5 billion in a nascent technology the Biden administration says is necessary to meet a goal of achieving net zero emissions by mid century, reports msn.com.

The UN’s Intergovernmental Panel on Climate Change released a report last month that said the world will need “carbon dioxide removal” technologies – ranging from planting trees that soak up carbon to grow, to costly technologies to suck carbon dioxide directly from the air to meet global goals to curb climate change.

“The UN’s latest climate report made clear that removing legacy carbon pollution from the air through direct air capture and safely storing it is an essential weapon in our fight against the climate crisis,” said Energy Secretary Jennifer Granholm.

Carbon removal technology has gained major attention and investment in recent months. There are three major direct air capture projects under development that have emerged in North America and Europe but they are only sucking up small amounts of CO2 from the air currently.

Earlier this year, technology firms Google, Shopify, Meta, and Stripe launched a $1 billion fund that will buy carbon removal credits over the next decade as a way to incentivize rapid deployment of the technology.

Billionaire entrepreneur Elon Musk last year offered inventors $100 million in prize money to develop new carbon removal technologies.

The DOE said that by midcentury, carbon removal will need to be deployed at the gigaton scale, meaning it would need to be able to sequester the equivalent of emissions from approximately 250 million vehicles driven in one year.

Full report here.

via Tallbloke’s Talkshop

https://ift.tt/iErvDR4

May 22, 2022 at 03:13AM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s