Posted on December 3, 2023 by Rich Powell
This op-ed was originally published by RealClearEnergy on December 3, 2023. Click here to read the entire piece.
The world is in the throes of a complex energy landscape as we recognize the unprecedented demand for affordable and reliable energy combined with our shared goal to decrease global carbon dioxide emissions. These twin realities create parallel challenges: producing more, while simultaneously deploying clean energy technologies that will reduce emissions.
The U.S. must lead in meeting both challenges. Domestic natural resources — oil, natural gas, coal and critical minerals – are prolific. Recent global instability has demonstrated just how crucial it is to decrease our dependence on hostile regimes like Russia, China and Iran. As the world’s largest producer of oil and natural gas, America’s seat at the table is clear.
Advancing U.S. leadership can’t stop with natural resources, we must also lead in low-carbon technologies. Financial incentives and policy support are accelerating the development of solutions like carbon capture and storage (CCS), which the International Energy Agency has said will be “necessary to meet national, regional and even corporate net-zero goals.”
The U.S. already has a competitive advantage with CCS. A recent report from the Global CCS Institute shows that the U.S. “dominates” the global CCS landscape with the U.S. facility count increasing by 73 in the past year alone. This is no surprise: the technology enjoys vast bipartisan support from Republicans and Democrats, environmentalists and industry alike, and is widely thought to be a crucial piece of the puzzle in decreasing emissions.
Click here to read the full article