US invests $1.2 billion into carbon-sucking projects in major push to battle global warming

The Biden administration has taken a significant step in endorsing technology designed to extract carbon dioxide, a major contributor to global warming, from the atmosphere with initial tranche of funding of up to $1.2 billion. The administration has chosen the first recipients of an overall substantial $3.5 billion fund dedicated to advancing the development of these innovative projects, identified by scientists as essential tools in mitigating the most severe impacts of climate change.

One of these projects, which will receive funding from the initial tranche of$1.2 billion, is led by a subsidiary of Occidental Petroleum Corp. This carbon-removal hub is proposed for Kleberg County, Texas.

Also Read | Ahead of BRICS summit, Russian envoy Babushkin advocates trading in national currencies

Add WION as a Preferred Source

The other project involves collaborations between Climeworks, Battelle Memorial Institute, and Heirloom Carbon Technologies Inc. and is proposed for Calcasieu Parish, Louisiana. These endeavours mark the initial wave of investments announced by the Energy Department.

Giant vacuum for carbon removal

Energy Secretary Jennifer M. Granholm reportedly said that the technology at the heart of these projects can be likened to a giant vacuum capable of extracting decades' worth of carbon pollution directly from the sky.

Granholm said, “If we deploy this at scale, this technology can help us make serious headway toward our net-zero emission goals.”

Once operational, these projects are projected to eliminate over 2 million metric tonnes of carbon dioxide annually from the atmosphere, equivalent to the environmental impact of nearly half a million gas-powered cars being taken off the roads each year.

Also Read | Indian govt proposes revamp of colonial-era laws, here’s what will change

The Energy Department revealed plans to unveil additional projects in the upcoming year.

Moreover, the Energy Department has selected 19 projects for smaller "award negotiations." Among these, Chevron Corp.'s division in San Ramon, California, has proposed a direct air capture hub, which has been allocated $3 million for development.

Additionally, Carbon Capture Inc. has secured $12.5 million for the Wyoming Regional Direct Air Capture Hub, further expanding the scope of carbon removal efforts.

Challenges

Despite its potential, the industry is still in its nascent stage and is reportedly characterised by high costs and substantial energy requirements for operation. Critics expressedconcerns about the unproven efficacy of carbon capture technology in combatting climate change, reports said.

WATCH | No-Confidence Motion: PM Modi's NDA government wins trust vote in Parliament

Currently, approximately 18 direct air capture projects are operational worldwide. However, the projects announced by the Energy Department signify the inaugural commercial-scale deployment of this technology in the United States.

WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.