Carbon Dioxide Isn’t Just a Problem. It’s a Lucrative Product

OPINION — While some experts butt heads over how to slash global carbon emissions, others are experimenting with ways to suck already-emitted gas out of the atmosphere and either store it or roll it back into useful products. This technology, called direct air capture and storage, is among several strategies that could revolutionize the energy industry and make cleaning up the environment an increasingly profitable enterprise. In the last decade, the United States has become a global leader in low-emissions, low-cost energy technology. American carbon dioxide emissions have plunged even as our oil, gas and renewable energy productions have all reached record levels. Going forward, deeper cuts in carbon emissions will be needed to meet international emissions targets, and draining carbon dioxide from the atmosphere is an attractive option. But without robust public and private investment in direct air capture research here in the U.S., these new tools will be pioneered and brought to market elsewhere, and other nations will reap the economic benefits. Crucially, Congress has taken steps that could put American industry in a strongly competitive position. For example, lawmakers recently expanded tax credits to accelerate investment in and deployment of carbon capture and storage in general, […]

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