On May 10, Representative Marc Veasey (D-TX-33) introduced the Fossil Energy Research and Development Act (H.R. 5745), which would reauthorize the Department of Energy’s Office of Fossil Energy for the first time in over a decade to expand research on new carbon capture, sequestration, and utilization technologies. The proposed legislation authorizes $825 million for FY 2019, with slight funding increases each year through FY 2023, for these research expansions.
The Senate Environment and Public Works Committee held a hearing to discuss the bipartisan Utilizing Significant Emissions with Innovative Technologies Act, or the USE IT Act (S.2602). Introduced by Committee Chairman John Barrasso (R-WY), the USE IT Act supports research and development of carbon capture utilization and storage (CCUS) technologies and facilitates a new permitting process for CCUS projects and carbon dioxide pipelines.
The Bipartisan Budget Act of 2018, signed into law by President Trump on February 9, contained language that provides tax incentives for carbon sequestration. The bill expands the carbon capture, utilization, and storage (CCUS) tax credits and allows new CCUS technologies, such as direct air capture (DAC), to qualify. This language was initially proposed in the FUTURE Act (S.1535) introduced by Senator Heidi Heitkamp (D-ND) on July 12, 2017.
Representative Mike Conaway (R-TX-11) introduced the Carbon Capture Act (CCA). This legislation incentivizes Carbon Capture and Sequestration (CCS) projects, which use technologies to capture up to 90 percent of carbon dioxide emissions produced from industrial processes, including electricity generation.
Carbon capture and storage (CCS) has been an energy industry practice for decades, originating as a mechanism to enhance oil and gas recovery. But carbon dioxide gas is tricky to capture, and even trickier to store: Without airtight sealants and careful monitoring, the gas seeps up through cracks in the subsurface and quickly reenters the atmosphere. But what if the carbon dioxide could be instead stored as rock?