Carbon Capture and Storage: A Massive Misallocation of Resources

-Andy Hira is Director of the CERG.
-Stefan Pauer is an Adjunct Professor at SFU’s Dept. of Political Science.
-Andrew S. Wright is a CERG director, adjunct Professor at SFU’s DeltaE group, and former CTO of Datum Telegraphic.

This is video from the talk launching a CERG Working Paper that evaluates the general feasibility of carbon capture, utilisation and storage (CCUS) as a strategy for reducing carbon emissions.

Carbon emissions continue their global upwards trend from fossil fuel production and consumption, including the significant emissions in the drilling, transporting and refining industries, and the myriad of heavy industries that use fossil fuels. This makes the prospect of removing CO2 from both new and existing oil and gas operations and heavy industry production processes increasingly attractive. There are a growing number of national strategies promoting and subsidising CCUS. The IEA reports that there are over 700 CCUS projects planned and 45 commercial facilities in operation, including 4 in China. Our economic analysis finds that while technically feasible, CCUS is prohibitively expensive, taking resources away from much needed clean energy investment, and potentially greenwashing the damaging effects of fossil fuel industries on our climate.