Bloomberg: Is Carbon Removal Finally Getting Serious?

Bloomberg opinion editorial

„In a field long plagued by hype and high costs, new startups are showing real promise. The question is whether they can scale up in time. […] Philanthropists and government agencies have long offered prizes for various carbon-removal benchmarks. And inchoate efforts are underway to turn stored carbon dioxide into something economically useful. Yet none of these efforts amounts to a sustainable business. […] In time, companies may devise cleverer ways to commercialize removed carbon, rendering advance commitments moot. Perhaps the $12 billion Congress pledged to the technology in last year’s infrastructure bill will lead to a breakthrough. Maybe green-energy investment will yield much faster emissions reductions than expected. But for now, an all-of-the-above approach makes sense — and harnessing the magic of competition can only help.“

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