Here are three stories that we found particularly interesting this week and why. We also give our lateral thought on each one.
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Carbon Capture and Storage - the cost
We have wanted to write about carbon capture and storage (CCS) for a while now. It's a big part of many 1.5 degree transition pathways. But there seems to have been limited analysis of what it might cost. Until now. A new report (December 2023) from Oxford University’s Smith School of Enterprise and the Environment looked at the costs of both high and low CCS usage scenarios - with a dramatic difference between the two. Really useful analysis, but as they say in the report, that is not the total picture.
The first scenario was to assume that CCS was used to mitigate (i.e. remove) around half of today's emissions by 2050. This is broadly the path preferred by some states and companies that we characterise as being in the 'low levels of change are needed' camp (the pro continuing fossil fuels lobby).