US Leads Carbon Capture Race, Europe Lags

On November eleventh, we delve into the global race for carbon capture technology, focusing on the USs lead over Europe. Carbon Capture and Storage (CCS) is vital for industries like cement, steel, and chemicals that cant fully decarbonize with renewables. The US is pulling ahead due to policy clarity and a tax credit, four five Q, offering $85 per ton of captured CO2, making projects financially viable. Europe, despite expertise and geological advantages, is lagging due to volatile prices and lack of consistent mechanisms in its Emissions Trading System, making projects difficult to break even.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.