Obama’s $8 billion coal joke: Rolls out loan guarantees for carbon capture projects

The Hill reports:

The Energy Department announced Tuesday it will soon take applications for up to $8 billion in federal loan guarantees for projects and developing technologies that reduce carbon emissions from extracting and burning fossil fuels.

The draft request related Tuesday for fossil fuel technologies and projects that reduce greenhouse emissions is open for comment until September and is slated for finalization this fall.

The move is part of the climate agenda President Obama revealed last week. Energy Secretary Ernest Moniz has been busy promoting the loan guarantees as a rebuttal to attacks from industry and mostly GOP lawmakers that the president’s agenda amounts to a “war on coal.”

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Carbon capture & storage is physically, financially and politically impossible.

CCS is pointless and inflationary.

2 thoughts on “Obama’s $8 billion coal joke: Rolls out loan guarantees for carbon capture projects”

  1. Let’s see, by the time one builds the technology to capture the CO2, by which time the cooling phase the Russkies and Japanese are predicting may have started but who knows?, the CO2 to create the CCS technology will exceed the CO2 that is actually CCS’d for some years, so you’d probably get less actual CO2 production, and less fiscal damage, if you just cashed the $8B into singles and burned them.

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