Message decoded: EU carbon goals aren’t going to be met.
Bloomberg reports:
Carbon capture and storage, a way of cutting emissions from industry by burying them underground, needs more state support for the European Union to meet clean-energy goals, a Royal Dutch Shell Plc (RDSA) adviser said.
“We’ve got to be clear that the EU’s climate goals in the long run cannot be met without clear policy intervention and that CCS is vital for the delivery of that,” Graeme Sweeney, who advises Shell on carbon-dioxide strategy, said by telephone…
The first phase of a European Commission program to finance as many as 12 demonstration plants failed to fund a single one as member states were unable to supply the required matching funds by the deadline.
Capturing CO2, a useless exercies, will divert emissions rather than decrease them.
If capturing CO2 filled a market need, engineers and entrepreneurs would be on it like white on rice. Having governments pay to capture CO2 is roughly equivalent to paying Tom to dig a hole and paying Eloise to fill it in.
Hi, Stan. that’s likely their mindset, but politicians, among other things, are a pragmatic lot. They realize that they need to be re-elected every so often.
Hmmm……another possible interpretation? “This is going to cost a lot of money, money we’re perfectly willing to accept from you guys forever and ever…..”