[Note from BenIndy: Both the Biden administration and Big Oil have been touting carbon capture and sequestration (CCS), sometimes called carbon dumping, as a way to address the climate crisis. However, many climate scientists and activists are seriously concerned about CCS’s sudden surge to the forefront of the climate conversation. Why are oil giants like Valero teaming up with BlackRock-funded concerns to build pipelines across America? Could it have anything to do with the billions of dollars in tax breaks on the table? On Friday, November 3, at 12 pm, Scientists Speak Up (a Stanford student group working to combat science misinformation) are hosting a discussion about CCS, how it actually supports oil and gas production as well as the chilling impact Big Oil and the Biden administration’s fixation on CCS could have on exploring more innovative or aggressive tech and mitigation. Finally, the discussion will touch on Big Oil’s disturbing, ever-growing influence in academic research. Click here to learn more about how to attend this important conversation and we will include a link with an event flyer at the end of this post. (The BenIndy was not asked to promote this event and is not affiliated with Scientists Speak Up in any way. We just thought the event looked very interesting and timely given a looming proposal to install a CCS pipeline in Solano County.)]
Carbon capture pipeline nixed after widespread opposition
A sign against a proposed carbon dioxide pipeline outside a home in New Liberty, Iowa, US, on Sunday, June 4, 2023. The Biden administration is all-in on carbon capture and storage. But the pipelines needed to move the greenhouse gas around face stiff local opposition. | Miriam Alarcon Avila for Bloomberg via Getty Images.
Navigator CO₂ says regulatory hurdles are too much to overcome.
A company backed by BlackRock has abandoned plans to build a 1,300-mile pipeline across the US Midwest to collect and store carbon emissions from the corn ethanol industry following opposition from landowners and some environmental campaigners.
Navigator CO₂ on Friday said developing its carbon capture and storage (CCS) project called Heartland Greenway had been “challenging” because of the unpredictable nature of regulatory and government processes in South Dakota and Iowa.
Navigator’s decision to scrap its flagship $3.1 billion project—one of the biggest of its kind in the US—is a blow for a fledgling industry that is an important part of President Joe Biden’s climate strategy. CCS projects attempt to lock carbon underground for decades, preventing it from adding to heat-trapping gasses in the atmosphere.
It also represents a setback for the carbon-intensive corn ethanol refining industry, a pillar of the rural Midwestern economy which is targeting industry-scale CCS as a way to reduce emissions.
Navigator’s project would have laid pipelines across five US states—South Dakota, Nebraska, Minnesota, Iowa, and Illinois—to collect CO₂ from ethanol and fertilizer plants and pipe the gas to an underground storage site in Illinois.
It was backed by several deep-pocketed investors, including BlackRock, US oil refiner Valero Energy and Poet, a top US biofuel refiner. [Emph. added by BenIndy.]
Matt Vining, Navigator’s chief executive, said: “As good stewards of capital and responsible managers of people, we have made the difficult decision to cancel the Heartland Greenway project.”
Heartland Greenway is part of a wave of CCS projects aiming to tap into billions of dollars in tax breaks available under the Inflation Reduction Act, the landmark climate law signed by Biden last year. The incentives aim to help companies build carbon capture infrastructure, which has not yet proven it is commercially viable on a large scale.
You must be logged in to post a comment.