Category Archives: Carbon sequestration

Carbon dioxide, Carbon emissions, Carbon sequestration, Valero Energy Corporation

Midwestern carbon capture boondoggle backed by Valero and BlackRock on hold after opposition

[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.

Financial Times via Ars Technica, by Jamie Smyth, October 21, 2023
 

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.

 

Carbon emissions, Carbon footprint, Carbon sequestration, Climate Change, Fossil fuels, Global warming

We Have Already Consumed a Year’s Supply of the Planet’s Resources in Less Than 8 Months

Repost from EcoWatch

We Have Already Consumed a Year’s Supply of the Planet’s Resources in Less Than 8 Months

Global Footprint Network | August 16, 2015 10:20 am

In less than eight months, humanity has used up nature’s budget for the entire year, with carbon sequestration making up more than half of the demand on nature, according to data from Global Footprint Network, an international sustainability think tank with offices in North America, Europe and Asia.

noplanb

Global Footprint Network tracks humanity’s demand on the planet (Ecological Footprint) against nature’s ability to provide for this demand (biocapacity). Earth Overshoot Day marks the date when humanity’s annual demand on nature exceeds what Earth can regenerate in that year. Earth Overshoot Day has moved from early October in 2000 to Aug. 13 this year.

The costs of this ecological overspending are becoming more evident by the day, in the form of deforestation, drought, fresh-water scarcity, soil erosion, biodiversity loss and the buildup of carbon dioxide in the atmosphere. The latter will significantly amplify the former, if current climate models are correct. Consequently, government decision-makers who factor these growing constraints in their policy making will stand a significantly better chance to set their nation’s long-term economic performance on a favorable track.

“Humanity’s carbon footprint alone more than doubled since the early 1970s, when the world went into ecological overshoot. It remains the fastest growing component of the widening gap between the Ecological Footprint and the planet’s biocapacity,” said Mathis Wackernagel, president of Global Footprint Network and the co-creator of the Ecological Footprint resource accounting metric.

“The global agreement to phase out fossil fuels that is being discussed around the world ahead of the Climate Summit in Paris would significantly help curb the Ecological Footprint’s consistent growth and eventually shrink the Footprint.”

The carbon footprint is inextricably linked to the other components of the Ecological Footprint—cropland, grazing land, forests and productive land built over with buildings and roads. All these demands compete for space. As more is being demanded for food and timber products, fewer productive areas are available to absorb carbon from fossil fuel. This means carbon emissions accumulate in the atmosphere rather than being fully absorbed.

A Second Chance

The climate agreement expected at the United Nations Conference of Parties (COP) 21 this December will focus on maintaining global warming within the 2-degrees-Celsius range over pre-Industrial Revolution levels. This shared goal will require nations to implement policies to completely phase out fossil fuels by 2070, per the recommendations of the U.N.’s Intergovernmental Panel on Climate Change (IPCC), directly impacting the Ecological Footprints of nations. .

Assuming global carbon emissions are reduced by at least 30 percent below today’s levels by 2030, in keeping with the IPCC’s suggested scenario, Earth Overshoot Day could be moved back on the calendar to September 16, 2030 (assuming the rest of the Footprint would continue to expand at the current rate), according to Global Footprint Network.

This is not impossible. In fact, Denmark has cut its emissions over the last two decades at this rate: Since the 1990s, it reduced its carbon emissions by 33 percent. Had the world done the same (while not changing the rest of the Footprint), Earth Overshoot Day would be on Oct. 3 this year.

This is not to say that Denmark has already reached a sustainable Ecological Footprint. Humanity would require the resources of nearly 3 planets if everyone lived like the Danes, which would move Earth Overshoot Day to May 8.

GFN_EOS_infographic_v5

Business as usual 

By contrast, business as usual would mean using the resources equivalent to two planets by 2030, with Earth Overshoot Day moving up on the calendar to the end of June.

This projection assumes that biocapacity, population growth and consumption trends remain on their current trajectories. However, it is not clear whether a sustained level of overuse is possible without significantly damaging long-term biocapacity, with consequent impacts on consumption and population growth.

Tipping Point

“We are encouraged by the recent developments on the front line of renewable energy, which have been accelerating worldwide, and by the increasing awareness of the finance industry that a low-carbon economy is the way of the future,” said Wackernagel. “Going forward, we cannot stress enough the vital importance of reducing the carbon footprint, as nations are slated to commit to in Paris. It is not just good for the world, but increasingly becoming an economic necessity for each nation. We all know that the climate depends on it, but that is not the full story: Sustainability requires that everyone live well, within the means of one planet. This can only be achieved by keeping our Ecological Footprint within our planet’s resource budget.”

Additional Resources

To calculate your own personal Ecological Footprint, and learn what you can do to reduce it, click here.
For free public data package (Ecological Footprint Data on 182 countries), click here.