• Home
  • Motorcycles
  • Electric Motorcycles
  • 3 wheelers
  • FUV Electric 3 wheeler
  • Shop
  • Listings

Subscribe to Updates

Get the latest creative news from CycleNews about two, three wheelers and Electric vehicles.

What's Hot

‘Ballerina’ Deserves an Oscar Nod for Stunts—But It’ll Never Get One

Samsung Galaxy A26 and Galaxy A36 Review: Fine but Dull Budget Phones

2025 Thunder Valley National Motocross Fantasy Picks: Fast Facts

Facebook Twitter Instagram
  • Home
  • Motorcycles
  • Electric Motorcycles
  • 3 wheelers
  • FUV Electric 3 wheeler
  • Shop
  • Listings
Facebook Twitter Instagram Pinterest
Cycle News
Submit Your Ad
Cycle News
You are at:Home » Project 2025 Would Drastically Cut Support for Carbon Removal
Electric Motorcycles

Project 2025 Would Drastically Cut Support for Carbon Removal

cycleBy cycleSeptember 18, 202403 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


That’s why government support like the DOE Regional DAC Hubs program is so important, says Jack Andreasen at Breakthrough Energy, the Bill Gates–founded initiative to accelerate technology to reach net zero. “This gets projects built,” he says. The Bipartisan Infrastructure Law signed in 2021 set aside $3.5 billion in federal funds to help the construction of four regional DAC hubs. This is the money that is going into the Louisiana and Texas projects.

Climeworks is one of the companies working on the Louisiana DAC hub, which is eligible for up to $550 million in federal funding. Eventually, the facility aims to capture more than 1 million tons of carbon dioxide each year and store it underground. “If you do want to build an industry, you cannot do it with demo projects. You have to put your money where your mouth is and say there are certain projects that should be eligible for a larger share of funding,” says Daniel Nathan, chief project development officer at Climeworks. When the hub starts sequestering carbon, it will be eligible to claim up to $180 for each ton of carbon stored, under tax credit 45Q, which was extended under the Inflation Reduction Act.

These tax credits are important because they provide long-term support for companies actually sequestering carbon from the atmosphere. “What you have is a guaranteed revenue stream of $180 per ton for a minimum of 12 years,” says Andreasen. It’s particularly critical given that the costs of capturing and storing a ton of carbon dioxide are likely to exceed the market rate of carbon credits for a long time. Other forms of carbon removal, notably planting forests, are much cheaper than DAC, and removal offsets also compete with offsets for renewable energy, which avoid emitting new emissions. Without a top-up from the government, it’s unlikely that a market for DAC sequestration would be able to sustain itself.

Most of the DAC industry experts WIRED spoke to thought there was little political appetite to reverse the 45Q tax credit—not least because it also allows firms to claim a tax credit for using carbon dioxide to physically extract more oil from existing reservoirs. They were more worried, however, about the prospect that existing DOE funds set aside for DAC and other projects might not be allocated under a future administration.

“I do think a slowing down of the DOE is a possibility,” says Andreasen. “That just means the money takes longer to get out, and that is not great.” Katie Lebling at the World Resources Institute, a sustainability nonprofit, agrees, saying there is a risk that unallocated funds could be slowed down and stalled if a new administration looked less favorably on carbon removal.

The Heritage Foundation doesn’t just doubt the carbon removal industry—it is openly skeptical about climate change, writing in one report that observed warming could only “theoretically” be due to the burning of fossil fuels, and that “this claim cannot be demonstrated through science.” In its Project 2025 plan, the foundation says the “government should not be picking winners and losers and should not be subsidizing the private sector to bring resources to market.”



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleRSV Can Be a Killer. New Tools Are Identifying the Most At-Risk Kids
Next Article Apple iPhone 16 Pro and iPhone 16 Pro Max Review: Smarter iPhones
cycle
  • Website

Related Posts

‘Ballerina’ Deserves an Oscar Nod for Stunts—But It’ll Never Get One

June 6, 2025

Samsung Galaxy A26 and Galaxy A36 Review: Fine but Dull Budget Phones

June 6, 2025

Silicon Valley Is Starting to Pick Sides in Musk and Trump’s Breakup

June 5, 2025
Add A Comment

Leave A Reply Cancel Reply

You must be logged in to post a comment.

Demo
Top Posts

‘Ballerina’ Deserves an Oscar Nod for Stunts—But It’ll Never Get One

June 6, 2025

The urban electric commuter FUELL Fllow designed by Erik Buell is now opening orders | thepack.news | THE PACK

July 29, 2023

2024 Yamaha Ténéré 700 First Look [6 Fast Facts For ADV Riding]

July 29, 2023
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest Reviews

Subscribe to Updates

Get the latest tech news from FooBar about tech, design and biz.

Demo
Most Popular

‘Ballerina’ Deserves an Oscar Nod for Stunts—But It’ll Never Get One

June 6, 2025

The urban electric commuter FUELL Fllow designed by Erik Buell is now opening orders | thepack.news | THE PACK

July 29, 2023

2024 Yamaha Ténéré 700 First Look [6 Fast Facts For ADV Riding]

July 29, 2023
Our Picks

Blipblox myTracks Review: A Beatmaking Pad for Kids

The Metaverse Was Supposed to Be Your New Office. You’re Still on Zoom

The Black List Upended the Film Industry. The Book World Is Next

Subscribe to Updates

Get the latest news from CycleNews about two, three wheelers and Electric vehicles.

© 2025 cyclenews.blog
  • Home
  • About us
  • Get In Touch
  • Shop
  • Listings
  • My Account
  • Submit Your Ad
  • Terms & Conditions
  • Stock Ticker

Type above and press Enter to search. Press Esc to cancel.