Mastodawn

hambibleibt Dec 10, 2019

"#CarbonCapture Utilization and Storage and Carbon Capture
and Sequestration: A polluting corporation captures emissions,
compresses it and stores it underground. The technology has
been used for more than 40 years to push oil out of the ground.
It can be used as an offset."

"the idea behind CCS is to permanently extract carbon
dioxide (CO 2 ) from pollution at fossil fuel burning facilities,
compress it into a liquid and pump it underground so that it
would not contribute to carbon dioxide in the atmosphere. There are several problems with this idea. First, and most importantly, this does not stop the environmental destruction that happens when extracting fossil fuels from the ground, nor does it stop the negative impacts on communities living near these sites. In fact, it creates a lock-in dependency that demands more extraction.
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hambibleibt

@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...."
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hambibleibt Dec 10, 2019

@queeranarchism @socalledunitedstates

"...The lobbying efforts pay off because they ultimately get
tax credits and are allowed to continue extraction for decades to come."

it's from the documents done by indigenous organisations, to be found under:
https://co2colonialism.org/
You find this specific text under downloads, volume 2.