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Climate NowClimate Now Debates: Carbon Capture and StorageOne of the most controversial parts of the 2022 Inflation Reduction Act - the most ambitious climate spending bill in history - was the large pot of federal dollars that could now subsidize the nascent Carbon Capture and Storage (CCS) industry. The bill provides for the expansion of the 45Q tax credit, which now allocates up to $85 per metric ton of CO2 that is captured from a point source of emissions like power plants or factories, and then is injected deep underground for permanent storage. At this price point, the IRA provides - for the first time ever - a...2023-08-141h 13Climate NowIs there a profitable approach to carbon capture and storage?In the international carbon offset market, the average price of removing one tonne of CO2 from the atmosphere is still below $15 USD, nowhere near enough to cover the costs of carbon capture and storage (CCS). As Dr. Sheila Olmstead (University of Texas, Austin) explained in a recent Climate Now podcast episode, this is why CCS is one of the few climate technologies not experiencing exponential growth. “Unless there's a market for captured CO2, then it doesn't make economic sense… to adopt these carbon capture technologies.” But what if, instead of making captured CO2 the only marketable product, the cap...2022-06-2132 min