Billions of Taxpayer Dollars ‘Wasted’ on Dead-End Carbon-Capture Schemes
10/7/2022
Billions of Taxpayer Dollars ‘Wasted’ on Dead-End Carbon-Capture Schemes
“An analysis published late September shows that past congressional efforts to bolster fossil fuel industry-backed carbon capture schemes have amounted to little more than a sinkhole of taxpayer money — a pertinent warning as Congress moves once again to pump billions of dollars into the failed technology as the climate crisis intensifies.
As a cautionary tale, the report from Food & Water Watch points to the 2009 American Recovery and Reinvestment Act, a stimulus package that put forth $3.4 billion for the research and development of carbon capture and storage (CCS) projects.
The results weren’t exactly encouraging, the report showed.
Food & Water Watch notes that ‘out of 11 large-scale demonstration projects selected by the Department of Energy (DOE), nine were funded by the ARRA and only two remain operational’.”
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