That may trigger a campaign fight given Labor has long been opposed to opening the CEFC to CCS, arguing it would direct investments away from established renewable energy sources like solar and wind that can reduce emissions in the short term.
Put simply, CCS is the process of trapping carbon dioxide and emissions released by industry in a way that does not affect the atmosphere, like storing it underground. The federal government believes real progress is being made in CCS technology, but many climate scientists are sceptical and argue it is being embraced by some companies to avoid phasing out fossil fuels earlier.
If legislation is passed, a new Low Emissions Technology Commercialisation Fund would be overseen by the CEFC and focus on emerging projects that could deliver 15-20 per cent of overall emission reductions by 2050. "[The fund] will address a gap in the Australian market where currently small, complex, technology-focused startups can be considered too risky to finance," Energy Minister Angus Taylor said.
Who will invest in something that’s never worked once?.
This government is tanking.
Just an excuse to keep using dirty energy
What? So we can keep emitting as much carbon as we like? How about emissions reduction?
CARBON CAPTURE RAPTURE AND STORAGE IS A FAILED STATE
CCS the biggest con!
Squandering more fkn Billions $$$ 🙄🙄
Clean energy fund to enable more fossil fuel use. 'Overhaul' = destroy. Would 'overhaul' be the word the government uses to describe this?
Words fail me.
25 years of R&D, hundreds of BILLIONS of dollars in investment, & I cannot name a single commercially viable CCS facility that stores enough emissions to make a difference. Its all just greenwashing BS from the fossil fuel industry.
Well, maybe they will want to invest in these magical beans I have, too. They're just as real as CCS.
If you believe that.. I got a miniature unicorn to sell you.
Recycle the carbon to create synthetic hydrocarbons hydrogen methanol
Salting the land before they are turfed out.
JFC.
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