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Call to Revise Carbon Capture Incentives

Call to Revise Carbon Capture Incentives


A contingent of carbon capture and storage proponents is urging Congress to tweak a tax credit essential to greater project deployment.

In a letter Monday, more than 50 unions, conservation groups and energy companies called on congressional leadership to include a “targeted suite of small-scale adjustments” to the federal 45Q tax credit in any forthcoming legislative package.

Failing to address “remaining small-scale gaps in federal policy” could hinder deployment of carbon capture and removal technologies, “imperiling” jobs, economic development, energy security and “the prospect of urgently needed — and achievable — greenhouse gas emissions reductions,” the letter said.

Signatories include agribusiness company Archer-Daniels-Midland; a subsidiary of oil and gas company Occidental Petroleum; the National Wildlife Federation; CO2 pipeline developer Summit Carbon Solutions; and the Carbon Capture Coalition, a pro-CCS group with more than 100 members.

 

Source: governorsbiofuelscoalition.org

Photo Credit: summit-carbon-solutions

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