As one detractor of a new gas plant in West Virginia says, “if the objective is to decarbonize our energy sector at the lowest possible cost, with the greatest reduction of greenhouse emissions, and with the greatest amount of job creation, the development of renewable resources would do a much better job of all three.”
UPDATE: The $85/ton 45Q credit passed in the Inflation Reduction Act. This credit was one of Manchin’s top priorities.
There are several planned coal and gas power plant projects that owe their existence to the increased credit. https://www.eenews.net/articles/climate-law-spurs-ccs-at-new-west-virginia-gas-plant/ Capture efficiencies range from 60-80%, many for enhanced oil recovery. These are not “low carbon” projects.
As one detractor of a new gas plant in West Virginia says, “if the objective is to decarbonize our energy sector at the lowest possible cost, with the greatest reduction of greenhouse emissions, and with the greatest amount of job creation, the development of renewable resources would do a much better job of all three.”