This is not a joke. This is a real U.S. government CARBON ...



BIG OIL’S CARBON TAX FRAUD and U.S. CARBON PRICINGINCREASE FRACKING and GLOBAL WARMINGSource: United States Internal Revenue Service is not a joke. This is a real U.S. government CARBON TAX CREDIT form.4934683069733Putting a price on pollution called “carbon pricing”i or a “carbon tax”ii is supposed to be the lead solution to climate change. However, the Trump administration and the United States are ALREADY doing carbon pricing, NOT to cut emissions, but to give Big Oil a multibillion-dollariii carbon tax break to extract oil.iv Big Oil is using this carbon tax break to INCREASE fracking, oil drilling,v and burning fossil fuels.vi The carbon tax credit actually is “the single biggest subsidy to the fossil fuel industry in the United States.”vii The carbon tax break allows Big Oil to turn climate change into climate chaos and laugh all the way to the bank. A classic example of climate capitalism, Big Oil’s carbon tax fraud shows that carbon pricing is NOT a solution to climate change because it lets polluters pollute, profit and make global warming catastrophic.viii39643042337004649470285770542035924386061131453480006757669280080All these oil companies love the carbon tax,ix carbon pricingx and carbon marketsxi promoted by Trump, the Paris Agreementxii and California’s Global “Climate Action” Summitxiii because they are false and fake solutions to climate change.xiv Carbon trading by any name greenwashes climate villains and lets them off the hook as they Sell the Sky.xvOil CompanyCarbon TaxCarbon PricingCarbon TradingParis AgreementExxon MobilyesxviyesxviiyesxviiiyesxixChevronyesxxyesxxiyesxxiiyesxxiiiShellyesxxivyesxxvyesxxviyesxxviiBPyesxxviiiyesxxixyesxxxyesxxxiStatoilyesxxxiiyes xxxiiiyes xxxivyesxxxvSuncoryesxxxviyesxxxviiyesxxxviiiyesxxxixTotalyesxlyesxliyesxliiyesxliiiTransCanadayesxlivyesxlvyesxlvi-Why does the carbon tax fraud increase fracking?29146501317970This carbon tax break for Big Oil is based on a dangerous, geoengineering,xlvii false solution to climate change called Carbon, Capture, Use and Storage (CCUS).xlviii CCUS lets Big Oil burn fossil fuels; CAPTURE and STORE the resulting CARBON dioxide; get a huge carbon tax break; USE the carbon dioxide to frack and drill for oil; burn the fracked gas and oil; and pollute more in an endless cycle of climate disasters and devastation.xlix Big Oil and the U.S. government say CCUS is “clean energy”l and a solution to climate change,li but really CCUS incinerates the climate.CARBON CAPTURE, USE AND STORAGEExtract and Burn Fossil Fuels. Pollute.CAPTURE CARBON Dioxide (CO2).STORE explosive CO2 in earth or sea.Profit with CARBON TAX BREAKfor captured CO2 up to $50 a ton.liiUSE CO2 with water and up to 500 carcinogenic chemicals.FRACK with CO2-water-chemical mix.Extract oil CO2-water-chemical mix.Profit from fracked gas and oil.Pollute and Profit from carbon tax.Repeat.The Ten E's of CCUS:Explosive Expensive ExperimentalEnergy intensive Earthquake-causing Exploits fossil fuels Expands coal mining Extracts & poisons water Enormous Big Oil profits Endangers communities,our climate and futureBig Oil is now carbon neutral!CCUS users like California’s biggest frackerliii Occidental Petroleum,liv ExxonMobil,lv Chevron in the Canadian Tar Sands,lvi Statoil of Norwaylvii and the World Coal Associationlviii say CCUS will significantly increase profits,lix fracking, fossil fuel extraction and reduce emissions at the same time.lx U.S. Secretary of Energy Rick Perry calls CCUS one of the most effective ways for the U.S. to keep using fossil fuels, while also “protecting the environment.”lxi But, in fact, CCUS and the IRS’ carbon tax creditlxii make it much cheaper to extract and burn fossil fuels and increase global warming.lxiiiCarbon pricing and CCUS make it “easier for coal-fired power plants to continue to65201801317535operate — and then sell it as a climate change remedy.”lxiv However, CCUS is so expensive,lxv dangerous, explosivelxvi and hard to do that only two power plants in the whole world use CCUS: Petra Nova in Texas, which only uses it for 9% of its operations;lxvii and SaskPower’s plant in Saskatchewan, which has been plagued by shutdowns and a legislative inquiry.lxviii The Kemper County plant in Mississippi abandoned trying to do CCUS after $4 billion dollar losses; lawsuits and 3 years of failing miserably.lxix In addition, the CCUS carbon tax break endangers communities and the climate. Clouds of leaked carbon have asphyxiated entire towns;lxx could cause earthquakes,lxxi and contribute to soil and ocean acidification, and marine dead zones.lxxii Promoters of a carbon tax need to admit now that the CCUS carbon tax break proves that acarbon tax is just a carbon tax fraud to burn more oil,lxxiii make industry more millions, pass the cost on to customers,lxxiv and incinerate the climate. Selling the Sky Stinks! Don’t Tax carbon, Cut carbon! Ban Fracking AND Carbon Pricing! Be a SKY PROTECTOR!i World Bank. “Globally Networked Carbon Markets”. The World Bank “supports countries that are interested in international climate markets through programs such as the Carbon Pricing Leadership Coalition (CPLC), the Partnership for Market Readiness (PMR) and the Networked Carbon Markets (NCM) initiative, to provide the relevant investment, advocacy, advisory, and knowledge services.” [Emphasis added.] [Accessed July 27, 2018]Carbon Pricing Leadership Coalition. [Accessed July 27, 2018]Partners include BP, Shell, Shell Canada, Statoil, BHP Billinton, etcii Forbes. Quora. Micheal Barnard. “Are Carbon Taxes the Solution to Global Warming?”. June 19,2017. [Accessed July 27,2018] Campaigns. Campaign created by Laura Byergo. “Carbon Tax for a Healthy World. And a Green Economy - To: White House Administration. Establish a carbon tax Now”. [Accessed August 8, 2018] Environmental Defense Fund. Susanne Brooks. “Ensuring Environmental Outcomes from a Carbon Tax”. November 3, 2016. [Accessed August 8, 2018] Conservation International. “Colombia’s Carbon Tax Takes Off”. April 21, 2018. [Accessed August 8, 2018]“The carbon tax, included in the most recent tax reform, opened the doors for companies to neutralize the CO2 emissions associated with their fossil fuel consumption through the purchase of certificates of carbon generated by projects for Reducing Emissions from Deforestation and Forest Degradation (REDD+).”NRDC. “NRDC: Carbon Tax Must Include Limits on Carbon Emissions”. Junes 20, 2018. [Accessed August 8, 2018]Cision. “Greenpeace offers "qualified support" for Liberal carbon tax”. June 19 (no year). releases/greenpeace-offers-qualified-support-for-liberal-carbon-tax-536299151.html [Accessed August 8, 2018]Dave Martin, Greenpeace climate and energy coordinator: ‘A carbon tax is an important part of the solution to global warming…’”Carbon Brief. Leo Hickman. Dr. Bill Hare. Formerly of Greenpeace. January 12, 2017. “I really believe we have to have a global carbon price, ultimately.” [Accessed August 5, 2018]iii “estimated at $2.8 billion a year” according to:Yale School of Forestry & Environmental Studies. Yale Environment 360. “Why Green Groups Are Split on Subsidizing Carbon Capture Technology” April 9, 2018. [Accessed August 5, 2018] iv Yale School of Forestry & Environmental Studies. Yale Environment 360. “Why Green Groups Are Split on Subsidizing Carbon Capture Technology” April 9, 2018. [Accessed August 5, 2018] “…a provision in the recently approved U.S. budget… increases tax credits for projects that capture and store CO2. Critics say new subsidies for “enhanced oil recovery” included in the budget bill would simply encourage companies to pump more oil.” [Accessed August 5, 2018]v Reuters. Timothy Gardner. February 9, 2018. “Burying carbon emissions gets boost in US budget deal.” [Accessed August 3, 2018]“Exxon Mobil Corp and Chevron Corp also use the technique on some of their oil fields. None detail their tax savings from the credit, but since it was first offered in 2008, companies have collected at least $350 million in the credits, according to Internal Revenue Service figures as of last summer.” [Emphasis added.]vi Reuters. Hannibal Hanschke. “Inadvertent Good: Trump signed a landmark bill that could create the next big technologies to fight climate change”. February 9, 2018. “The 45Q tax credits could prove to be just the cure the industry needs. Here’s how they work: Any new fossil-fuel power plant or carbon- dioxide producing industry that commences construction before 2024 is eligible for tax credits for up to 12 years (a time cap on the credits). The tax credits offered are per metric ton of carbon dioxide captured: up to $35 if the carbon dioxide is put to use (pushing out oil from depleting fields is the most popular use) or up to $50 if it is simply buried in underground storage.”vii Sierra Club and EarthJustice and other groups as quoted in Yale School of Forestry & Environmental Studies. Yale Environment 360. “Why Green Groups Are Split on Subsidizing Carbon Capture Technology” April 9, 2018. [Accessed August 5, 2018]“The Sierra Club, Earthjustice, and other groups objected that this provision amounts to ‘the single biggest subsidy to the fossil fuel industry in the United States,’ with a price tag they estimated at $2.8 billion a year.”viii Climate Justice Alliance, Indigenous Environmental Network. Tamra Gilbertson. “Carbon Pricing: A Critical Perspective for Community Resistance – Building Solidarity against the Threat of Linking Global Carbon Markets”. October 2017. Critical-Perspective-for-Community-Resistance-Online-Version.pdf [Accessed August 5, 2018]ix New York Times. John Schwartz. “Exxon Mobil Lends Its Support to a Carbon Tax Proposal”. June 20, 217. [Accessed August 5, 2018]Wall Street Journal. Amy Harder and Bradley Olson. “Exxon Touts Carbon Tax to Oil Industry”. June 30, 2016. [Accessed August 8, 2018]"‘Of the policy options being considered by governments, we believe a revenue-neutral carbon tax is the best,’ Suzanne McCarron, Exxon's vice president of public and government affairs.” [Emphasis added.]New York Times. Tina Rosenberg. “Guess Who’s for a Carbon Tax Now”. April 11, 2017 for-a-carbon-tax-now.htmlOil giants for carbon tax Exxon, BP, Shell Canada, Royal Dutch Shell, and Suncor among others.x Carbon Tax. Bob Dudley, British Petroleum CEO, “A global carbon price would help to unleash market forces and provide the right incentives for everyone to play their part.” (Christian Science Monitor, Feb. 17, 2015). [Accessed July 30, 2018]The Hill. Timothy Cama. “Oil giants call for global carbon pollution fees”. June 1, 2015. giants-call-for-worldwide-carbon-pollution-fees “Six major European oil companies are asking the United Nations to help impose carbon dioxide emission pricing in all countries…The letter was signed by representatives of the United Kingdom’s BG Group and BP, Italy’s Eni, the UK-Netherlands's Royal Dutch Shell, Norway’s Statoil and France’s Total.” [Emphasis added.]xi World Bank. Eldar Saetre. Statoil CEO: We know carbon pricing actually works”. June 2, 2015. ceo-we-know-carbon-pricing-actually-works [Accessed August 5, 2018]“What is also important now is to put in place a framework that enables the different carbon trading systems that already exist to be linked and to create momentum towards a more harmonized global carbon price in the future.” . [Emphasis added.]xii World Bank. Vikram Widge. “Carbon markets in the Paris Agreement - an early holiday gift”. The Paris Agreement “paves the way for a renewed international carbon market…”. December 17, 2015. holiday-gift [Accessed August 5, 2018]xiii Sacramento Bee. Christopher Cadelago. Video. “’Large worldwide carbon trading system’ is goal, Jerry Brown says”. November 7, 2017. [Accessed August 5, 2018]xiv Carbon Trade Watch. The Daily Astorian. Cassandra Profita. “Carbon trading is 'false solution' to global warming”. February 4, 2008. [Accessed August 4, 2018] Democracy Now!. “Climate Activists: Carbon Trading a “False Solution” Pushed by Bankers and Bureaucrats”. November 22, 2013. [Accessed August 4, 2018]xv Indigenous Environmental Network and Mending News. Exposing REDD. 20012. [Accessed August 4, 2018]xviWall Street Journal. Amy Harder and Bradley Olson. “Exxon Touts Carbon Tax to Oil Industry”. June 30, 2016. "‘Of the policy options being considered by governments,we believe a revenue-neutral carbon tax is the best,’ Suzanne McCarron, Exxon's vice president of public and government affairs.” [Emphasis added.] [Accessed August 4, 2018]Carbon tax – Thought Leaders. ExxonMobil CEO Rex Tillerson “Exxon’s official position has long been the same—a carbon tax is the best way…” [Accessed August 4, 2018]xvii Washington Post. Dino Grandoni.“The Energy 202: Exxon, GM and Pepsi plan to back carbon tax floated by ex-GOP officials”. June 20, 2017. back-carbon-tax-floated-by-ex-gop-officials/5947e0eae9b69b2fb981dd82/?noredirect=on&utm_term=.fd0af6b0e908 [Accessed August 4, 2018]xviii E&E News. Benjamin Hulac. “EXXON-This is how an oil giant uses internal carbon pricing”. June 15, 2017. [Accessed August 4, 2018]“Since 2007, Exxon has mimicked the economic effects of climate regulation — through carbon taxes and cap-and-trade markets — on its business.” [Emphasis added.]xix ExxonMobil. 2018 Energy & Carbon Summary. Letter from the Chairman. Darren Woods, Chairman and CEO. Page 1. [Accessed August 4, 2018]“We’ve been vocal in our support of a carbon tax, and recently joined the pro-carbon-tax Climate Leadership Council. We also support the Paris Agreement.”xx CDP Climate Change 2017 Information Request Chevron Corporation. Page 4. (1).pdf [Accessed August 4, 2018]“The Company incurs additional expenses for monitoring, reporting and verifying emissions as well as collecting, accounting for and disbursingcarbon taxes and allowance costs that it collects on products it sells.” [Emphasis added.]xxi CDP Climate Change 2017 Information Request Chevron Corporation. Page 4. (1).pdf [Accessed August 4, 2018]“Since 2007, as part of its ongoing planning process, Chevron has generated an internal outlook of future carbon prices.”xxii No REDD in Africa Network. “Worst REDD-type Projects in Africa”. 2015. [Accessed August 4, 2018]“Chevron uses armed guards for a REDD-type project in Brazil. Chevron, The Nature Conservancy, General Motors, American Electric Power and the Society for Wildlife Research and Environmental Education have implemented the Guaraque?aba Climate Action Project in the ancestral territory of Guarani People with uniformed armed guards called “For?a Verde” or “Green Force” who intimidate and persecute local communities; jailing and shooting at people who go into the forest as well as forcibly entering and searching private homes without due authorization “…[T]he project has caused devastating impacts on the local communities…” and raises the specter of REDD militarization.”xxiii CNNMoney. Matt Egan. “President Trump could deal the landmark Paris climate agreement a massive blow this week”. April 18, 2017 [Accessed August 5, 2018]“Specifically, ExxonMobil, Chevron, Royal Dutch Shell and BP are all in favor of America staying in the Paris COP21 pact”“Chevron (CVX) told CNNMoney it ‘supports continuing with’ the Paris deal because it ‘offers a first step towards a global framework.’” xxiv The Guardian. Oliver Milman. “Exxon, BP and Shell back carbon tax proposal to curb emissions”. June 20, 2017. [Accessed August 5, 2018]xxv Shell. “CLIMATE CHANGE – PUBLIC POLICY POSITION” data/performance-data/greenhouse-gas-emissions/climate-change-public-policy-position.html [Accessed August 5, 2018]xxvi Shell. “EMISSION TRADING. Product Portfolio - Our carbon trading portfolio includes:”April 18, 2017 [Accessed August 5, 2018] xxvii CNNMoney. Matt Egan. “President Trump could deal the landmark Paris climate agreement a massive blow this week”. [Accessed August 5, 2018]“A Shell (RDSA) spokesman confirmed that the energy giant remains "strongly in favor" of the Paris deal.”xxviii The Guardian. Oliver Milman. “Exxon, BP and Shell back carbon tax proposal to curb emissions”. June 20, 2017. [Accessed August 5, 2018]xxix Christian Science Monitor. David J. Unger. “BP's two-word fix for global climate change”. FEBRUARY 17, 2015. [Accessed July 30, 2018]BP. Carbon Pricing. [Accessed August 5, 2018]April 18, 2017xxx BP. Carbon pricing -Leading the way in emissions markets. [Accessed August 5, 2018] xxxi CNNMoney. Matt Egan. “President Trump could deal the landmark Paris climate agreement a massive blow this week”. [Accessed August 5, 2018]“A BP (BP) spokesman told CNNMoney that it ‘welcomed the Paris agreement when it was signed, and we continue to support it...’” xxxii Equinor. “Statoil achieves climate target two years ahead of schedule”. September 22, 2017. [Accessed August 5, 2018]xxxiii World Bank. Eldar Saetre. “Statoil CEO: We know carbon pricing actually works”. June 2, 2015. ceo-we-know-carbon-pricing-actually-works [Accessed August 5, 2018]xxxiv Ibid.xxxv Equinor. “The Paris Agreement will succeed! - Statoil”. (no date). succeed-.html [Accessed August 5, 2018]xxxvi New York Times. Tina Rosenberg. “Guess Who’s for a Carbon Tax Now”. April 11, 2017 whos-for-a-carbon-tax-now.html [Accessed August 3, 2018]Ibid.Ibid.xxxix Suncor Energy Inc. “Suncor Climate Report: Resilience through Strategy”. 2017. Page 2. [Accessed August 3, 2018]xl Washington Post. Dino Grandoni.”The Energy 202: Exxon, GM and Pepsi plan to back carbon tax floated by ex-GOP officials” June 20, 2017. back-carbon-tax-floated-by-ex-gop-officials/5947e0eae9b69b2fb981dd82/?noredirect=on&utm_term=.fd0af6b0e908 [Accessed August 3, 2018]“BP, ExxonMobil, Royal Dutch Shell and Total…Each of the oil and gas companies mentioned above had, in one form or another, supported some kind of carbon pricing”xli Ibid.xlii Ibid.“BP, ExxonMobil, Royal Dutch Shell and Total…Each of the oil and gas companies mentioned above had, in one form or another, supported some kind of carbon pricing.”xliii Competitive Enterprise Institute. Myron Ebell. “Ten major energy companies support Paris Accord”. September 8, 2015. [Accessed August 3, 2018] xliv TransCanada. CDP Report. CDP 2017 Climate Change 2017 Information Request TransCanada Corporation. Page 23. [Accessed August 3, 2018]“TransCanada facilities are included in carbon pricing programs in California (cap and trade), the Northeast U.S. Regional Greenhouse Gas Initiative, British Columbia (carbon tax), Alberta (emissions trading scheme) and Québec (cap and trade).”xlv Ibid.xlvi Ibid.xlvii ETC Group et al. “The Big Bad Fix: The Case Against Climate Geoengineering”. November 2017. Page 14. [Accessed August 8, 2018]xlviii World Coal Association. Carbon Capture, Use and Storage. storage [Accessed August 3, 2018]xlix Yale School of Forestry & Environmental Studies. Yale Environment 360. “Why Green Groups Are Split on Subsidizing CarbonCapture Technology” April 9, 2018. [Accessed August 5, 2018]“…a provision in the recently approved U.S. budget… increases tax credits for projects that capture and store CO2. Critics say new subsidies for “enhanced oil recovery” included in the budget bill would simply encourage companies to pump more oil.” [Emphasis added.] [Accessed August 5, 2018]l United States. Department of Energy. Dan Brouillette, Deputy Secretary of the U.S. Department of Energy “The Role of Carbon Capture, Utilization, and Storage in Forming a Low-Carbon Economy”. May 21, 2018. and-storage-forming-low-carbon-economy [Accessed August 3, 2018]“One such technology with enormous clean energy potential is carbon capture, utilization, and storage—commonly called CCUS.” [Emphasis added.]li United States. Department of Energy. Dan Brouillette, Deputy Secretary of the U.S. Department of Energy “The Role of Carbon Capture, Utilization, and Storage in Forming a Low-Carbon Economy”. May 21, 2018. and-storage-forming-low-carbon-economy [Accessed August 3, 2018]“Last year, Secretary of Energy Rick Perry called CCUS one of the most effective ways for allowing the United States to continue using its abundant fossil fuel resources, while also protecting the environment, and proposed including CCUS in international clean energy discussions.” [Emphasis added.]United States Department of Energy. “Secretary of Energy Rick Perry Announces $36 Million for Projects to Advance Carbon Capture Technologies”. September 22, 2017. carbon-capturelii Reuters. Hannibal Hanschke. “Inadvertent Good: Trump signed a landmark bill that could create the next big technologies to fight climate change”. February 9, 2018. “The 45Q tax credits could prove to be just the cure the industry needs. Here’s how they work: Any new fossil-fuel power plant or carbon- dioxide producing industry that commences construction before 2024 is eligible for tax credits for up to 12 years (a time cap on the credits). The tax credits offered are per metric ton of carbon dioxide captured: up to $35 if the carbon dioxide is put to use (pushing out oil from depleting fields is the most popular use) or up to $50 if it is simply buried in underground storage.” [Emphasis added]liii The Center for Media and Democracy. Source Watch. [Accessed August 4, 2018]“Oxy is California’s largest natural gas producer and the state's largest oil and gas producer on a gross-operated barrels of oil equivalent basis, which has increased with the use of hydraulic fracturing. On its website, Oxy states that the company ‘is applying the expertise gained from exploring and producing different shale zones at Elk Hills to other California assets, including properties in the Los Angeles, Ventura and San Joaquin basins. More than one-fourth of Oxy’s California production currently is from shales.’” "Our businesses: California," Occidental Website, accessed May 2012.liv Occidental Petroleum. Climate Report 2018. Climate-Related Risks and Opportunities: Positioning for a Lower-Carbon Economy”. CEO Letter. Vicki Hollub, President and Chief Executive Officer. March 2018. Page 4.“This report also highlights our experience in carbon capture and sequestration projects (CCUS), which is built upon our industry-leading position in carbon dioxide enhanced oil recovery, and has the potential to help achieve global goals for reducing emissions. In early 2018, Congress approved legislation that could help incentivize the development of new CCUS projects, making more anthropogenic carbon dioxide available for geologic sequestration and for use in oil and gas production. This should provide additional opportunities for Occidental for a low carbon future.” [Emphasis added] Oxy/Assets/Occidental_Climate%20Report_2018.pdf [Accessed August 3, 2018]OCCIDENTAL PETROLEUM CORPORATION: LEADER IN CO2 EOR & CCUS DEPLOYMENT. Daniel Kim. May 24, 2017. Commercial Development Analyst Occidental Petroleum Corporation [Accessed August 4, 2018]lv ExxonMobil. Carbon Capture and Storage. [Accessed August 3, 2018]lvi Chevron. CDP - Climate Change 2017 Information Request Chevron Corporation. November 11, 2017. Page 4. 2017.pdf [Accessed August 5, 2018]“*In Alberta, Canada, Chevron is a co-venture partner of the Quest Carbon Capture and Storage (CCS) project— the first CCS project in the Canadian oil sands. This innovative project is designed to capture and safely store more than a million metric tons of carbon dioxide each year—equivalent to taking 250,000 cars off the road annually. Commercial operations at the Quest CCS project began in November 2015." “*Chevron Australia’ s Gorgon Project incorporates facilities to safely inject reservoir carbon dioxide more than 1.2 miles (2 km) below the surface of Barrow Island. Carbon dioxide occurs naturally in the gas being produced and is extracted as a routine part of the processing operations. In most gas processing plants, these gases are vented to the atmosphere. When fully operational, it is anticipated that greenhouse gas emissions from the Gorgon Project will be reduced by up to 4 million metric tons per year, or 100 million metric tons over the life of the project.” [Emphasis added.]lvii World Bank. Eldar Saetre. Statoil CEO: We know carbon pricing actually works”. June 2, 2015. ceo-we-know-carbon-pricing-actually-works [Accessed August 5, 2018]“[T]he Norwegian carbon tax…has helped us to prioritize investments into carbon capture…” [Emphasis added.]lviii World Coal Association. Carbon Capture, Use and Storage. storage [Accessed August 3, 2018]“The IEA has estimated that CCUS could deliver 14% of cumulative GHG emissions cuts through to 2050 and that climate change action will cost an additional US$4.7 trillion without CCUS."lix Reuters. Timothy Gardner. February 9, 2018. “Burying carbon emissions gets boost in US budget deal.”[Accessed August 3, 2018]“Exxon Mobil Corp and Chevron Corp also use the technique on some of their oil fields. None detail their tax savings from the credit, but since it was first offered in 2008, companies have collected at least $350 million in the credits, according to Internal Revenue Service figures as of last summer.” [Emphasis added.]lx European commission. SETIS. Carbon Capture, Utilization and Storage. capture-utilisation-and-storage “…help to mitigate greenhouse gas emissions significantly.” [Accessed August 3, 2018]lxi United States. Department of Energy. Dan Brouillette, Deputy Secretary of the U.S. Department of Energy “The Role of Carbon Capture, Utilization, and Storage in Forming a Low-Carbon Economy”. May 21, 2018. and-storage-forming-low-carbon-economy [Accessed August 3, 2018]“Last year, Secretary of Energy Rick Perry called CCUS one of the most effective ways for allowing the United States to continue using its abundant fossil fuel resources, while also protecting the environment, and proposed including CCUS in international clean energy discussions.”United States Department of Energy. “Secretary of Energy Rick Perry Announces $36 Million for Projects to Advance Carbon Capture Technologies”. September 22, 2017. [Accessed August 3, 2018]lxii United States Internal Revenue Service. Form 8933. Carbon Sequestration Tax Credit. [Accessed August 3, 2018]lxiii Reuters. Timothy Gardner. “Burying carbon emissions gets boost in U.S. budget deal”. credit/burying-carbon-emissions-gets-boost-in-u-s-budget-deal-idUSKBN1FT2UT [Accessed August 3, 2018]“Oil drillers that use a method to store carbon dioxide emissions underground to boost crude production, a technique that coal miners and some environmentalists support, got a boost in the budget agreement President Donald Trump signed on Friday.”“Occidental Petroleum Corp, Denbury Resources Inc. and other oil producers with ready access to carbon dioxide have used the existing credit to keep output going even during downturns in the industry.” [Emphasis added].lxiv Yale School of Forestry & Environmental Studies. Yale Environment 360. “Why Green Groups Are Split on Subsidizing Carbon Capture Technology” April 9, 2018. [Accessed August 5, 2018]lxv Forbes. Quora. “The Long Term Effects of Carbon Capture Technology”. May 16, 2017. [Accessed July 31, 2018]Resources for the Future. “The Future of Carbon Capture, Utilization, and Storage (CCUS): Status, Issues, Needs”. May 24, 2017 “The current cost of employing CCUS technologies is high, however—$60 to $70 per metric ton of CO2for power plants for capture, storage, and transport.”lxvi New York Times. Henry Fountain. “THE BIG FIX: Corralling Carbon Before It Belches from Stack”. July 1, 2017. [Accessed August 5, 2018] lxvii Petra Nova has “four coal units.” Therefore, 33% of Unit 8 only represents 8.25% of its overall coal-burning emissions.U.S. Energy Information Administration. “Petra Nova is one of two carbon capture and sequestration power plants in the world”. October 31, 2017. [Accessed August 5, 2018]“Petra Nova’s carbon-capture system is designed to capture about 90% of the carbon dioxide (CO2) emitted from the flue gas slipstream, or about 33% of the total emissions from Unit 8.”Power. Sonal Patel. “Capturing Carbon and Seizing Innovation: Petra Nova is POWER’s Plant of the Year”. August 1, 2017. “four coal units”.lxviii New York Times. Henry Fountain. “THE BIG FIX: Corralling Carbon Before It Belches from Stack”. July 1, 2017. [Accessed August 5, 2018] lxix New York Times. Ian Urbina. “Piles of Dirty Secrets in Model ‘Clean Coal’ Plant”. July 7, 2016. [Accessed August 5, 2018]Green Tech Media. Katie Fehrenbacher. “Carbon Capture Suffers a Huge Setback as Kemper Plant Suspends Work - It’s the latest U.S. government-supported boondoggle around CCS.” June 29, 2017.[Accessed August 5, 2018]lxx New York Times. Henry Fountain. “THE BIG FIX: Corralling Carbon Before It Belches from Stack”. July 1, 2017. [Accessed August 5, 2018] “…leaking carbon dioxide could harm or kill people. In Cameroon, a volcanic lake suddenly released a cloud of naturally forming carbon dioxide in 1986, suffocating 1,700 people.”lxxi Ibid.lxxii Peter M. Haugan. Geophysical Institute, University of Bergen, Bergen Marine Research Cluster “Effects of C02 capture and Storage on Ocean Acidification”. gfi.uib.no, bergenmarine.no [Accessed August 5, 2018]lxxiii World Bank. Eldar Saetre. “Statoil CEO: We know carbon pricing actually works”. June 2, 2015. ceo-we-know-carbon-pricing-actually-works [Accessed August 5, 2018]“Statoil's position as a leader in carbon efficiency [CCUS] can be traced back to the Norwegian carbon tax, which is more than 20 years old. In Norway, we pay more than US$65 per ton of carbon emissions. This has helped us to prioritize investments into carbon capture [CCUS] and other emissions reduction technologies. It informs our decision making for investment and is a cost we add to our calculations to see if a new oil and gas project is a viable investment.” [Emphasis and underline added.]lxxiv Washington Post. Dino Grandoni. “The Energy 202: Exxon, GM and Pepsi plan to back carbon tax floated by ex-GOP officials”. June 20, 2017. back-carbon-tax-floated-by-ex-gop-officials/5947e0eae9b69b2fb981dd82/?noredirect=on&utm_term=.04f46e6f1d79 [Accessed August 5, 2018]New York Times. John Schwartz. “Exxon Mobil Lends Its Support to a Carbon Tax Proposal”. June 20, 217. [Accessed August 5, 2018]Furthermore, “oil giants could simply pass the cost of new [carbon] taxes on to customers.” [Emphasis added.]Wall Street Journal. Amy Harder and Bradley Olson. “Exxon Touts Carbon Tax to Oil Industry”. [Emphasis added.] June 30, 2016. [Accessed August 8, 2018]"‘Of the policy options being considered by governments, we [,Exxon,] believe a revenue-neutral carbon tax is the best,’” [Emphasis added.] Chevron agrees:Chevron. CDP - Climate Change 2017 Information Request Chevron Corporation. 11/28/2017. Page 4. [Accessed August 5, 2018]“The most prominent are payments for allowances for internal emissions under cap and trade systems and payments of carbon taxes on internal emissions. Some of these costs may be ultimately borne by customers in the competitive marketplace, mitigating their impact.” [Emphasis added.] ................
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