Carbon Capture and Storage Seen as Essential to Energy Future

Limiting carbon emissions requires the rapid, widespread adoption of carbon capture and storage (CCS) technology to augment alternative energy sources such as nuclear, wind and solar, according to the Global CCS Institute’s 2016 Status Report.

The Institute today convened a panel of experts to discuss the conclusions of the report, and how carbon reduction goals might be met under the newly elected U.S. Administration. Held at the National Press Club in Washington, D.C., the panel offered a diversity of perspectives on policy, regulation, politics and business.  Participants included:

• Jeff Erikson, General Manager, Global CCS Institute
• David Mohler, Deputy Assistant Secretary, U.S. Department of Energy
• Armond Cohen, Executive Director, Clean Air Task Force
• Adele Morris, Director, Climate Change and Energy Economics Project, Brookings Institution
• Bob Inglis, Director, Energy and Enterprise Initiative, George Mason University; former Republican Congressman from South Carolina

The panel coincided with the release of the 2016 CCS Status Report, and the United Nations’ 22nd Conference of the Parties (COP22)in Marrakesh, Morocco.

“Carbon capture is at a crossroads – it is essential, but not inevitable,” said the Institute’s regional General Manager Jeff Erikson.

According to the International Energy Agency, approximately four billion tons per year of CO₂ must be captured and stored globally by 2040, up from current annual capacity levels of about 40 million tons per year. The Status Report concludes that while more CCS projects are expected to come online, long-term climate goals are unlikely to be met without policy actions that create a level playing field with other low-carbon technologies.

“While North America leads the world in large-scale CCS projects, stronger commercial, policy and regulatory measures are needed to accelerate global CCS development and meet global climate change goals.” said Erikson.  “To realize its full potential as both a climate change tool and a job creator, CCS requires greater government support, similar to what renewables have enjoyed over the years.”

The Global CCS Institute will continue to advocate for accelerated deployment of CCS, as energy policies, technologies and economics continue to evolve.

Source : PRnewswire