@queeranarchism @socalledunitedstates
"Second, there are no guarantees that the CO 2 will not leak out.
CCS has been used for more than 40 years for Enhanced
Oil Recovery (EOR). EOR involves pumping pressurized CO 2 into
old underground oil reservoirs to recover less accessible oil. Oil
companies in the US continue to push for CCS because it allows
continued extracting and they get a tax break. In the US, fossil
fuel corporations using EOR receive a tax credit, 45Q. The tax
credit covers generally 15 percent of qualified costs of EOR, but
how this cost is calculated is questionable.

The International Energy Agency (2019) states that there
are 18 operational #CCS facilities globally. Eighty percent are for EOR, with 70 percent of these in North America because there is a “demand for CO2 for enhanced oil recovery.” The demand partially comes from the tax credit. Billions have been spent by corporations such as #Shell and #Statoil for research and lobbying efforts...."
2/3