this post was submitted on 07 Oct 2024
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I am no fan of CCS, but the £22bn is across 25 years.
I don't think that spending less than 1bn a year to research better methods of carbon sequestration is a bad idea, and it definitely won't meaningfully change the need to drastically reduce the amount of carbon being emitted in every one of those 25 years.
How can I confident in that statement? Because if it would be a meaningful reduction, you'd see a shit load more being spent given just how inexpensive that would be in comparison to the cost of transition and abandoned O&G assets.
Edit: typos
You're right, but this is also the problem. These oil and gas companies are spending so much on lobbying so they can limp along with lines like:
"We'll be clean as soon as someone else figures out carbon sequestration"
It's plastic "recycling" all over again. Yes we do need to spend money on studying these types of solutions, but we need to be VERY careful about letting very powerful industries abuse the system and gaslight their way into continued pollution.
Articles like this are an important reminder - if the major oil lobbyists see this as a good thing, we need to be asking why.
Absolutely agree.