The Institute is pleased to release today a new report -CCS Ready Policy and Regulations – The State of Play.
We bet they are but that doesn’t make CCS any less stupid an idea than it was yesterday. It is a massive waste of energy for no useful purpose. Don’t do it.
The report provides the current status of ‘carbon capture and storage ready’ (CCSR) policies, and explores the role of such policies in sending important signals to the private sector on the need to decarbonise energy systems in a post-2050 period. Many governments consider CCSR to be an insurance policy to help prevent carbon lock-in from investments in long-lived and high-emitting technologies, especially in the energy sector. CCSR presents an example of what most policy makers might consider to be an interim measure in the absence of arguably more efficient policy instruments, such as market based mechanisms in which to drive a transition to a lower-carbon economy in a stable and predictable way.