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Illustration:Rebecca Zisser/Axios

One of the biggest concerns about the use of technology to capture carbon dioxide emissions is that it would displace renewable energy and deepen dependence on fossil fuels, but a new report out today suggests that’s largely unlikely to happen.

Driving the news: The report by environmental group Clean Air Task Force finds that a federal tax credit that Congress expanded last year for carbon-capture technologies doesn’t displace any electricity from renewable energy while maintaining an impactful reduction of emissions.

The big picture: The technology that captures CO2 from power plant smokestacks and industrial facilities is prohibitively expensive in most cases but considered essential to reducing heat-trapping emissions to the level scientists say is necessary. The Trump administration and Congress have supported its development, despite Washington’s deep divisions over larger climate-change policies.

By the numbers:

  • Nearly 50 million metric tons of carbon dioxide emissions could be captured and stored underground annually by 2030 on U.S. power plants fueled by coal and natural gas, the report found.
  • That’s equivalent to taking 7 million cars off the road.
  • The tax credit encourages 3% of America’s fossil-fuel electricity to use carbon-capture technology — most of that on existing coal plants.
  • It has virtually zero impact on developing electricity from renewable energy.

What’s next: Deepika Nagabhushan, an expert at the group and lead author of the report, says the tax could help the U.S. get more than two-thirds of the way toward achieving goals by the International Energy Agency, but guidance is needed from the IRS to really encourage more investment.

Go deeper:

Go deeper

6 hours ago - Politics & Policy

Rahm Emanuel floated for Transportation secretary

Rahm Emanuel. Photo: Joshua Lott for The Washington Post via Getty Images

President-elect Biden is strongly considering Rahm Emanuel to run the Department of Transportation, weighing the former Chicago mayor’s experience on infrastructure spending against concerns from progressives over his policing record.

Why it matters: The DOT could effectively become the new Commerce Department, as infrastructure spending, smart cities construction and the rollout of drone-delivery programs take on increasing economic weight.

6 hours ago - Politics & Policy

Biden turns to experienced hands for White House economic team

Illustration: Sarah Grillo/Axios

Joe Biden plans to announce Cecilia Rouse and Brian Deese as part of his economic team and Neera Tanden to head the Office of Management and Budget, sources tell Axios.

Why it matters: These are experienced hands. Unveiling a diverse group of advisers also may draw attention away from a selection of Deese to run the National Economic Council. Some progressives have criticized his work at BlackRock, the world's largest asset management firm.

Biden taps former Obama communications director for press secretary

Photo: Mark Makela/Getty Images

Jen Psaki, who previously served as Obama's communications director, will serve as President-elect Joe Biden's press secretary, the transition team announced Sunday.

The big picture: All of the top aides in Biden's communication staff will be women, per the Washington Post, which first reported Psaki's appointment.