(1/9) I’ve seen a lot of op-eds about how awful it is that #CCS was included in the #IRA. Most lack nuance, because they haven’t clocked that the #energytransition isn’t just about the power sector anymore. Sorry #energytwitter. So, a 🧵 on why carbon capture still has a place.
(2/9) First, I get this. I was a huge #CCS skeptic. Two things changed my mind: modelling pathways to #netzero for materials with my @BloombergNEF team, and the #BNEFNEO team's carbon budgets for industry. Sobering work that taught me a lot.
(3/9) Some industries just can’t do without CCS. Process emissions are just as harmful as combustion. And we’re past the point where abatement of emissions is enough. That means removals, which means #DirectAirCapture.
(4/9) I agree that CCS+coal shouldn’t be a thing. Renewables will make coal redundant eventually, and I hope soon. But that application for CCS *still* won’t be economically viable, even with new #45Q. However, it does bring #steel, #petrochemicals and #cement into the picture. 
(5/9) For #petrochemicals and #cement there are few large-scale decarbonization options. 60% of cement’s emissions are a chemical by-product from turning calcium carbonate and limestone into cement. All the #hydrogen and #renewables in the world won’t abate those emissions.
(6/9) I can’t see a way to decarbonize cement (8% of global emissions) without CCS. If you do, DM me, because we’re writing about this soon. That only leaves the option to stop using cement, or offset its emissions entirely through #DirectAirCapture. I think both are unlikely.
(7/9) #petrochemicals have both feedstock and production emissions. Fuel switching only fixes production. The high cost of #hydrogen made plastic, a lack of sustainable biomass, and demand outstripping plastic scrap supply, means 41% of capacity uses CCS in our net-zero scenario.
(8/9) Could the #IRA have made #45Q better, rather than just bigger? Sure. #Canada’s CCUS subsidy doesn’t allow #EOR projects to claim credits. (Go Canada 🇨🇦) It could have left out the power sector, and the Infrastructure Bill could give CCS grants only to hard-to-abate sectors.
(9/9) But if it can accelerate #decarbonization for two of the hardest hard-to-abate sectors – probably worth it.
P.S. Sorry about the #IRA thing Irish friends.
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