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Biden administration invests in carbon capture, upping pressure on industry to show results

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The Biden administration is announcing an investment of $251 million in carbon capture and storage projects in seven states. biden kprc2 click2hou

FILE - A liquid carbon dioxide containment unit stands outside the fabrication building of Glenwood Mason Supply Company, April 18, 2023, in the Brooklyn borough of New York. The Biden administration announced on Wednesday, May 17, $251 million for carbon capture and storage projects in seven states.

Between the direct investments announced Wednesday, billions more earmarked from legislation and public statements by President Biden and U.S. Climate Envoy, the government is increasing pressure on the carbon capture and storage industry to show that the technology can significantly help combat climate change.

The projects are funded through the U.S. Department of Energy, with funds from the Bipartisan Infrastructure Law, which set aside $12 billion for carbon management projects. The awardees include universities, one major oil corporation, and come from several states, such as Texas, Illinois, Georgia and Wyoming.

 

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