"The new US tax credit for carbon capture, utilisation and storage will provide pivotal support for this critical technology. We welcome US leadership behind this important and significant step in the right direction."— IEA Director Fatih Birol, on the expansion of carbon capture incentives in the federal budget.
- Why it matters: Birol has long been concerned that global efforts on CO2 capture have been lagging badly.
- Yes, but: It's far from clear that the expanded tax credits are enough to jumpstart large-scale carbon storage efforts. Several energy and climate experts debated this point over the weekend in this Twitter thread.