“But thanks to technological advances in carbon capture and storage we’re beginning to see new investments that are directed to cleaning coal and using the captured carbon to produce more oil.”
I would strongly caution anyone in this business that “carbon capture” is the pure invention of progressive government seeking ecological Utopia. As such, it grossly distorts the market price of the things its touches. If you are in this business, you are not serving your creditors or shareholders well unless and until you have a contingent plan for when (not if) the case for carbon capture collapses and the price of CO2 returns to a more truthful value.
“I would strongly caution anyone in this business that “carbon capture” is the pure invention of progressive government seeking ecological Utopia. As such, it grossly distorts the market price of the things its touches. If you are in this business, you are not serving your creditors or shareholders well unless and until you have a contingent plan for when (not if) the case for carbon capture collapses and the price of CO2 returns to a more truthful value.”
How true. I recall attending a presentation by Shell who drank the KoolAid years ago about carbon capture. Shell says it was a great thing for the environment, blah blah.
Truth is I found later on that their capturing effort increased capital costs on their large projects by 25%.
The presentation was a sales(or snow) job that was an attempt to convince everyone else in industry to do the same so Shell would stay competitive.
Needless to say, no one drank Shell’s Kool Aid.