Scaling carbon capture and carbon removals does not mean business-as-usual for the fossil fuel industry
by Leonardo Buizza, Energy Transition Commission, November 2023
„As COP28 draws near, increasing attention is being paid to a crucial topic: the future potential and role for carbon capture, utilisation and storage (CCUS), and carbon dioxide removals (CDR). This year has seen scandals bloom around carbon offsets, increasing talk of “net-zero barrels” of oil, and the rise of the idea that carbon capture will allow the fossil fuel industry to maintain business-as-usual. Opposing arguments have emerged that the potential of both CCUS and CDR is either incredibly limited, or near limitless. Given the link to fossil fuel use and emissions of carbon dioxide, this leads to a very wide, almost incredible range of scenarios for future demand for fossil fuels – as we’ve highlighted in the chart below.“