The Cost Of Global CCS: At Least $17.6 Trillion

From: Clean Technica


A study has now revealed how much it would cost to use carbon capture and storage (CCS) to mitigate climate change. It would be $17.6 trillion (er, well over that amount). Proponents of CCS say it is the only feasible way to mitigate climate change because coal and natural gas are “cheap.” Is this $17.6 trillion idea simply sweeping dirt under the rug? Let’s explore that.\

This involves continued reliance on fossil fuels obtained via dangerous and environmentally destructive extraction practices such as hydraulic fracturing (commonly referred to as fracking), mountaintop removal coal mining (MTR), and long wall coal mining.

The $17.6 trillion price tag is the initial cost required to equip all of today’s power plants (worldwide) with CCS technology (assuming favourable geological conditions), according to Jeremy van Loon of Bloomberg. Therefore, in reality, it would cost much more than this, since energy use is still growing fast. Carbon capture and storage requires a large, stable container to store carbon dioxide under high pressure. This container is often an existing underground chamber, as the cost of building compressed-gas storage tanks is prohibitively high.

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