This week, the Senate Committee on Environment and Public Works (EPW) held an oversight hearing on “Expanding and Accelerating the Deployment and Use of Carbon Capture, Utilization, and Sequestration (CCUS)." The hearing demonstrated the broad bipartisan support that CCUS technologies boast in the Senate.
The hearing featured testimony from Matthew Fry, policy advisor to the Office of Wyoming Governor Matt Mead; David Greeson, vice president of development at NRG Energy, Inc.; and Dr. S. Julio Friedmann, chief executive officer at Carbon Wrangler, LLC.
Senators also referenced the bipartisan S. 1535 , the Furthering carbon capture, Utilization, Technology, Underground storage, and Reduced Emissions (FUTURE) Act. The bill is sponsored by Sen. Heidi Heitkamp (D-ND) and is cosponsored by several members of the EPW Committee, including Chairman John Barrasso (R-WY). The FUTURE Act would extend and expand the 45Q tax credit, which encourages the development and use of CCUS technologies and processes.
During the hearing, senators heard about steps the federal government could take to complement financial incentives in the FUTURE Act to promote additional deployment of CCUS projects and support carbon dioxide pipelines. These include simplifying environmental permitting under the National Environmental Policy Act (NEPA) and the Clean Air Act.
What They Are Saying:
“In Wyoming, we have tremendous coal, natural gas, and oil resources. These resources fuel our state's economy. CCUS presents a win-win opportunity. Here is the concept. Instead of releasing the CO2 into the atmosphere when we combust fossil fuels, CCUS allows us to turn that CO2 into a useful commodity. Through this technology, carbon dioxide is captured where the fuel is burned, such as at a power plant, and then transported, used, and ultimately stored."
-Chairman John Barrasso (R-WY)
“Too many of our manufacturing plants remain dormant. In fact, a number of them can be found in my home state of Delaware, as well as in the states of many of us who are members of this committee. In addition, many of our coal mines and coal-fired utility plants are continuing the decades-long trend of closing or reducing production. Investments in carbon capture and storage can help slow or reverse this trend. These investments can lead to good paying American jobs in engineering and design, as well as in manufacturing, installing and operating technology that is made in America and sold all over the world. Investments in this technology are also critical if we are going to meet our long-term climate goals."
-Ranking Member Tom Carper (D-DE)
“First let me thank you (Chairman Barrasso) and Senator Capito for cosponsoring the bill (the FUTURE ACT) that is kind of at the heart of today's hearing. I would hope that other colleagues on the committee will look at it and consider cosponsoring it as well."
-Sen. Sheldon Whitehouse (D-RI)
“Deploying CCUS technology is of great importance, not only to Wyoming, but to the nation as a whole. CCUS provides us with the opportunity to treat CO2 as a valuable commodity, rather than an end product with no value."
-Matt Fry, policy advisor to Wyoming Gov. Matt Mead
“Many governments see investment in this technology as important to transforming energy markets and claim the additional benefits from those investments, for example stronger heavy industry sector, growing jobs, avoiding the health consequences of pollution and a number of other things."
-Dr. Julio Friedman, chief executive officer at Carbon Wrangler, LLC.
“The committee has an opportunity to complement the FUTURE Act effort by reviewing statutes and regulations that impact CCUS. Now is the time to see what more we could do to encourage, and remove impediments to, the use and deployment of CCUS. We need to make sure our laws and regulations accelerate, not hinder, our environmental goals. I look forward to working with members of this committee in a bipartisan way to examine how we can expand and accelerate CCUS deployment and use. When we do that, we promote American leadership in technological innovation, increase our energy security, and improve our environment."
-Chairman John Barrasso (R-WY)
