Editors Edition Is carbon capture tech a dangerous distraction Yahoo Finance Canada
Technology that removes carbon emissions from the air at oil refineries, or the smokestacks at cement factories, is attracting billions in investments and serious attention from governments eager to fight climate change. But not everyone is sold on carbon capture technology and storage (CCS).
Ben & Jerryâs Ice Cream, Greenpeace, and about 500 environmental groups say CCS is a âdangerous distractionâ that does nothing to stop the root causes of climate change. In a letter sent to Prime Minister Justin Trudeau and U.S. President Joe Biden, they argue that government financial support for CCS will slow the transition from fossil fuels and support heavy-polluting industries.
A group representing Canadaâs oil industry, for example, is looking for Ottawa to pay for up to 70 per cent of a proposed $75 billion project to decarbonize the countryâs controversial oilsands
Tom Rand, author of the book Climate Capitalism, says CCS technology has a place in hard-to-decarbonize industries like steel and cement. However, he sees the request by the energy industry as an attempt to âcaptureâ public money as Ottawa spends on its climate goals.
Rand also weighs in on Jeff Bezosâ idea about moving the worldâs largest sources of industrial pollution into space.
âItâs one of the stupidest things Iâve ever heard,â he told Yahoo Finance Canadaâs Jeff Lagerquist. âFrankly, itâs astounding to me that someone so successful can be so misinformed about the nature of the industries that we need to tackle, and the timeframe in which we need to tackle them.â
Rounding out a tech-heavy show, Rand gives his views on the race to build grid-scale, long-duration storage solutions. The idea is to store excess power from renewable sources like wind and solar, so it can be deployed later when the sun isnât shining and the wind isnât blowing.
Got a question for Tom Rand? Email [email protected] and let him know what interests you in the world of clean energy and technology.
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.
[embedded content]
Previous articleCamila Cabello WORRIED Shawn Mendes âDidnât Love Me Backâ
0 Response to "Editors Edition Is carbon capture tech a dangerous distraction Yahoo Finance Canada"
Post a Comment