Though increasingly framed as a key way to slow climate change, for most commercial Carbon Capture and Sequestration (CCS) operations, selling the carbon they capture to produce more fossil fuels through Enhanced Oil Recovery (EOR) production is the only way they can ensure profits for investors. According to a count by the Global CCS Institute, of the 28 currently operable CCS complexes worldwide, 22 rely on EOR as their back end “storage” system. CCS advocates hope that under the right public policy regimes, this profit-making motive will help scale up CCS operations while driving costs down. Getting the public onboard means selling CCS as a way to prevent climate change, but who pays when they fail? L. Michael Buchsbaum reviews one of 2020’s biggest CCS disasters as the fourth part of the on-going Seduction series.
As many nations develop net-zero carbon plans both to honor the Paris Climate Agreement and address the climate crisis, many are leaning heavily upon unproven and misunderstood Carbon Capture and Sequestration (CCS) technologies. Despite billions of dollars spent in research and development, it’s unclear how much environmental progress is actually achieved by CCS. Not only is there little accurate data around how much carbon has really been buried, but there’s reason to believe CCS will actually increase overall greenhouse gas emissions. In the third part of his “Seduced by CCS” series, L. Michael Buchsbaum reviews CCS’ math and how utilizing it to produce more oil only makes things worse.
Touted as a key component within many emerging national net-zero emissions strategies, carbon capture and sequestration (CCS) received a huge credibility boost from several recent IPCC and IEA studies. But CCS’ greatest advantage is that it enables oil majors to have a market in an otherwise decarbonized economy. What it doesn’t do is stop the pollution stream. Framed as a climate solution, in fact most current and planned projects use the CO2 they capture to produce more fossil fuels through various enhanced oil recovery (EOR) schemes. As part of an ongoing series deconstructing CCS, L. Michael Buchsbaum reviews some recent history.
The last few months have seen a rivulet of announcements around proposed carbon capture and sequestration (CCS) plans. Long trumpeted by the fossil fuels industry and given a recent boost by the scientists at the EIA and IPCC, it has become a favored climate change solution by policymakers in the EU, Johnson’s UK and plays a key role in the new Biden Administration energy transition strategies. CCS is also a key component within various envisioned “clean” hydrogen and net-carbon neutral schemes. But many fear that depending on CCS will only anchor fossil energy polluters long into the future. The first of a three-part series, L. Michael Buchsbaum reviews some of the fundamentals and current status of carbon capture projects worldwide.
Months after global prices collapsed, oil and gas behemoth Exxon Mobil is facing unprecedented losses. While publicly struggling to adjust to new realities, behind the scenes Exxon is coopting messaging around climate change to steer lucrative tax subsidies towards expanding dubious carbon capture and sequestration (CCS) projects that will only help them produce more oil and gas. Worse, as Covid-ravaged Americans cued their cars into miles long food lines, Trump ensured relief funds went not to them, but to Exxon instead. In the same way that Big Oil didn’t become ubiquitous gently, they will not go gently into their good nights either. L. Michael Buchsbaum reviews how one of the largest global carbon polluters is using Covid-19 and climate change to enrich itself.
To achieve greenhouse gas neutrality by 2050, in early July the European Commission (EC) published their new Hydrogen strategy for a climate-neutral Europe. Though the promise of a future green hydrogen-based system is the main selling point, in reality the near-term hydrogen economy will be dependent on a nightmarish mix of fossil gas-derived “grey” hydrogen, later supplemented by “blue” hydrogen, itself dependent upon the proving out of non-functional carbon capture and sequestration technologies (CCS). Behind the scenes, the oil and gas industry and their allies are pushing for a “technology-neutral” hydrogen future, thus ensuring them a handsome stream of profits. Despite the green label, there is every reason to suspect that the coming hydrogen transition will be exponentially dirtier than expected. L. Michael Buchsbaum reminds us to be skeptical in Part II of a series on the promises and pitfalls of green hydrogen.
Heralded as the missing puzzle piece within a fully decarbonized economy, the European Commission has determined clean hydrogen is the 21st Century solution to arresting climate change. Published in July, their new Hydrogen Strategy is also a jobs plan and pathway towards unifying the EU around a holistic energy and economic policy. But despite being framed as a green energy program, there’s a growing realization that the transition will be dirtier than expected. For the short term at least, the plan rests heavily on using fossil gas as “a bridge fuel” once again. L. Michael Buchsbaum reports in the first of a series on the evolving hydrogen revolution.
There will be no new coal plants built in the US, and existing ones are coming under pressure from renewables. Energy utilities are switching to wind power instead: Xcel Energy has promised to use 100 percent carbon-free electricity by 2050. L. Michael Buchsbaum goes in-depth.
EU-funded efforts to boost the uptake of carbon capture and storage (CCS) technologies have failed largely because of a lack of coordination and long-term strategies that scared away investors, according to a report by the European Court of Auditors. Sam Morgan takes a closer look.
Norway is well known as a leader in producing energy from renewable sources, however its export strategies are based on natural gas. Carbon Capture and Sequestration (CCS) is Norway’s latest idea to “green up” the European gas market despite the threat of long-term consequences. L Michael Buchsbaum takes a look.