Carbon capture oil company propaganda4/30/2024 ![]() The report states that limiting global temperature increases to 1.5 degrees Celsius, the target the international community committed to with the Paris Agreement, would require an "inconceivable" 32 billion tonnes of emissions to be sequestered by carbon capture by 2050. Legislation to implement the tax credit is expected to be tabled within weeks.īut while the IEA report acknowledges that carbon capture is an important tool in the fight against climate change - particularly when it comes to offsetting emissions from sectors that have no viable alternative solutions - it warns against "excessive expectations" and reliance on the technology. The federal government is also trying to spur investment in the pricey technology with the promise of a tax credit for companies that deploy carbon capture projects. Oilsands companies, for example, have banded together to propose a $16.5-billion carbon capture and storage project in northern Alberta that they say will help them reach net-zero emissions from production by 2050. In Canada, carbon capture and storage has become a key pillar of the oil and gas sector's decarbonization goals. ![]() In a report released Thursday, the Paris-based IEA said oil and gas companies need to start "letting go of the illusion" that "implausibly large" amounts of carbon capture are the solution to the global climate crisis.Ĭarbon capture and storage refers to the use of technology to sequester harmful greenhouse gas emissions from industrial processes and store them safely underground. ![]() Carbon capture and storage has become a key plank of the Canadian oil and gas sector's decarbonization goals, but a new report from the International Energy Agency warns against banking on the technology as the planet continues to warm. ![]()
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |