Carbon Capture GOLD RUSH
Bloomberg Businessweek US|January 16, 2023
Past efforts to capture carbon dioxide so it doesn’t worsen climate change have been small-scale and littered with expensive failures. But supporters say the new tax incentives in the US Inflation Reduction Act (IRA) are transformative enough that, combined with the lessons of the past 20 years, the technology is finally ready to take off.
Amanda Kolson Hurley
Carbon Capture GOLD RUSH

Lehigh Hanson Inc., one of the largest concrete makers in the US, says early this year it will start running a new cement plant in Mitchell, Indiana, that could capture 95% of its carbon dioxide emissions by 2028. If successful, the project would demonstrate that one of the world’s most polluting industries can go almost carbon neutral.

Air Products Inc., in Allentown, Pennsylvania, is starting work on a $4.5 billion facility just south of Baton Rouge, Louisiana, that could become the world’s biggest carbon sequestration operation.

CarbonCapture Inc., in Los Angeles, expects to pull 5  million metric tons of CO2 a year directly from the air by the end of the decade. Similarly, Drax Group, a British-based bioenergy and carbon capture company, is taking investors’ money for plants that would suck 12 million metric tons of CO2 out of the atmosphere.

Carbon capture and storage (CCS) refers to processes that separate CO2 from other gases (such as nitrogen and oxygen) and sequester the CO2 to keep it out of Earth’s atmosphere. Humans have been doing this for decades but not at anywhere near the rate that could help stop the planet from catastrophically overheating. It simply would’ve cost too much.

The IRA, passed by Congress in August, includes major revisions to the 45Q carbon capture and storage tax credit that should change this math. “Show me the money, and we’ll show you the projects,” says John Thompson, a director at the Clean Air Task Force, an environmental research group in Boston. “That’s what’s happening now.”

Esta historia es de la edición January 16, 2023 de Bloomberg Businessweek US.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición January 16, 2023 de Bloomberg Businessweek US.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BLOOMBERG BUSINESSWEEK USVer todo
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 minutos  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 minutos  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 minutos  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 minutos  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ minutos  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ minutos  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 minutos  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 minutos  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 minutos  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 minutos  |
March 20 - 27, 2023