While expensive technology does exist to capture CO2 (albeit using an additional 20-30% more energy to do so), there is no approved place to store the massive amounts of compressed CO2 that would be generated. Nor is there the pipeline infrastructure to transport the CO2.
Even where CO2 is used for enhanced oil recovery (e.g., Texas), there is no assurance that the CO2 even stays underground — i.e., CO2 injected underground could easily leak to the atmosphere or into groundwater (which would be acidified).
For more on the financial, physical and political impossibility of carbon capture and storage read this.
Now here’s the kicker: EPA is throwing the CCS bone to the coal industry because it knows CCS will never happen. Part of the financial-physical-political impossibilities of CCS is that the enviers will NIMBY it to death. if you think the Keystone XL pipeline is a circus, wait until CCS pipelines and underground storage areas are mapped out.