![]() ![]() Supporters of the carbon capture credit, including some environmental groups, say it will help the technology gain widespread commercial support. ![]() In 2016, a nearby school was forced to close after carbon dioxide was detected at dangerous levels inside the school. In June, the IRS proposed that companies be allowed to avoid being regulated by the EPA, a step that could also allow companies to avoid publicly disclosing details of their carbon capture operations.Įnvironmental advocates say there is good reason to require rigorous oversight: One depleted oil field that has received carbon dioxide from Exxon’s Wyoming facility, for example, repeatedly spewed unknown volumes of the gas to the surface, most likely through old oil wells. Now, as the Trump administration is finalizing rules for an expanded version of the credit, advocates say the administration has capitulated to industry lobbying led by Exxon that would weaken oversight of the process. The emissions, in almost all cases, are then used to increase oil production. Joe Biden, the Democratic nominee for president, has endorsed it, too.īut the most significant policy support for the technology is the tax credit, known as 45Q, for capturing emissions. Republicans promote the technology as a central piece of any GOP climate plan. Such examples, they say, highlight the risks of relying on the carbon removal method to play a significant role in curbing global warming.Ĭarbon capture and storage, or CCS, is the rarest of policy breeds: a climate change solution with bipartisan support. Meanwhile, the company, through its lobbyists, has fought relentlessly to do away with a requirement that companies claiming the credit submit monitoring plans to the Environmental Protection Agency, oversight meant to ensure that the captured carbon dioxide does not escape into the atmosphere.Įnvironmental advocates say Exxon’s actions offer a prime example of how petroleum companies have used their adoption of carbon capture to deflect demands for more far-reaching action to combat climate change-like reducing fossil fuel production-while at the same time exploiting the technology for maximum profit. ![]()
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