The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“CARBON CAPTURE PRIZE ACT” mentioning the U.S. Dept. of Energy was published in the Extensions of Remarks section on pages E765 on June 13, 2019.
The Department oversees energy policies and is involved in how the US handles nuclear programs. Downsizing the Federal Government, a project aimed at lowering taxes and boosting federal efficiency, said the Department's misguided energy regulations have caused large losses to consumers for decades.
The publication is reproduced in full below:
CARBON CAPTURE PRIZE ACT
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HON. GRACE MENG
of new york
in the house of representatives
Thursday, June 13, 2019
Ms. MENG. Madam Speaker, we stand at a critical juncture where the decisions we make today about combating climate change will have lasting consequences for generations to come. Each year, millions of metric tons of carbon dioxide (CO2) are emitted into the atmosphere. These emissions are causing the planet to warm and creating more sudden, severe weather-related storms. On top of that, significant amounts of CO2 already reside in the atmosphere. While it is critical that all nations transition to a low-carbon future, we must also explore technologies that remove and sequester carbon pollution to keep global average temperatures from rising above 1.5 degrees.
That is why, today, I am introducing the Carbon Capture Prize Act, which would direct the Department of Energy (DOE) to create a prize competition to incentivize research, development, and commercialization of direct air capture technology to remove and permanently sequester CO2 from the atmosphere.
Technologies, like direct air capture, can provide nations the tools needed to reduce carbon pollution in the atmosphere. The benefit of this technology is that it can be located anywhere, making its potential scale of deployment enormous. A major challenge facing direct air capture technology, however, is cost, which can range between $800 and $250 per metric ton of CO2 removal from the atmosphere.
My legislation would address this issue by establishing a prize competition for direct air capture technology that reduces CO2 in the atmosphere. This bill authorizes an aggregate prize amount of $30,000,000, and DOE may run the competition individually or with other agencies. Prize competitions have long been an effective tool to find cost-effective solutions for expensive problems.
Madam Speaker, I urge my colleagues to support the Carbon Capture Prize Act. It is undeniable that the fate of our children and future generations rests on the decisions we make today about fighting climate change.
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