The nascent industry that captures and stores carbon dioxide has to scale to the size of the oil industry much faster than oil did, according to the head of the Global CCS Institute. To learn more, read “Carbon Capture Has To Get As Big As Oil Industry In Less Than 30 Years.” Reading this article may require a subscription from the news outlet.
- The oil industry moves about 5 gigatons of oil and gas per year. To meet climate goals, the world has to remove at least that weight of carbon dioxide – 5 to 10 gigatons – from the atmosphere each year.
- Hard to decarbonize sectors – steel, chemicals, cement, fertilizers, and plastics – will generally need carbon capture and storage to address their emissions.
- The Global CCS Institute is an international think tank seeking to accelerate the deployment of carbon capture and storage. It knows of 26 operating CCS facilities and 40 more that are either in development or suspended.
- If all 66 facilities were operational, they would collectively capture and store 102 megatons of carbon dioxide each year. Capacity may have to increase 100-fold by 2050.
Path to 100% Perspective:
Accelerating decarbonization efforts is the subject of discussions, research and multiple organizational goals. Carbon capture technology is gaining interest in the energy sector around the world as industries seek innovation, traction and affordability.