Today, @BloombergNEF published its annual #CCS Market Outlook. The tl:dr is that, based on current announcements, CCS capacity is set to grow 6x by 2030. That’s 44% higher than what we expected last year. And it’s before you take #IRA into account. 🧵 with some key results: (2/10) CCS is diversifying. Most of the capture will be happening in #industry and #power, rather that natural gas processing. And most of the CO2 will be going in the ground, not to oil wells for EOR.

(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.