Honeywell and The University of Texas at Austin (UT-Austin) announced today that they are forming a collaborative effort to capture carbon emissions from power plants and heavy industry installations
and projects this year, since this growing industry represents a pathway to ongoing viability and survival in a greener power mix for the oil and natural gas industry. The more emissions in the power and transportation sectors can be captured and either effectively sequestered or the carbon used for other purposes, the more viable fossil fuels will be able to remain into the future.
If we can successfully eliminate carbon from our existing energy mix to such a large extent, why spend the trillions of dollars that will be required to move to an entirely different set of energy-generation sources like wind, solar and electric vehicles? Or, as Kimmeridge Managing Partner and Chairman of the Board for Civitas Resources Ben Dellearlier this year: “One of the things I ask people is if all the E&Ps were net-zero and have no carbon footprint, or if you could sequester carbon...
Certainly, the climate change lobby hates that entire concept, since it is so focused on obtaining ever-rising government subsidization for those three specific industry segments. But it is a perfectly reasonable question to pose.of their own, especially when you follow the carbon trail across their entire supply chains, starting with the mining of the array of critical minerals on which they all remain so reliant.
Given that reality, one might ask why it is that the roughly $600 billion of Green New Deal funding contained in President Biden’s “Build Back Better” Bill focuses so heavily on new subsidies for renewables and EVs, and almost not at all on funding to help make the nation’s existing energy mix more viable in the climate change equation. It’s a good question.
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