California lawmakers leading the way on CCS
The CCS revival – part two: US dominance
45Q tax credit and fuel standards are spurring industry on in the US, although blue hydrogen development is still slow
The US is expected to continue to dominate the carbon capture and storage (CCS) industry in the shorter term, even as activity picks up around the world (as discussed in part one of this series). The US accounts for about half of CCS capacity under development and 60pc of operating capacity, according to the IEA. The US CCS industry benefits from a proven track record, oil and gas expertise, world-class geological storage and improving government incentives—despite the lack of a federal carbon tax. The drivers The key to the revival of the US CCS industry has been the enhanced 45Q tax credit, along with the California low-carbon fuel standard (LCFS), putting a substantially greater monetary
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