Mother Jones
•79% Informative
Governments have handed out almost $30 billion in subsidies for carbon capture and hydrogen over the past 40 years .
The US has spent the most taxpayer money, some $12 billion in direct subsidies.
Critics say public money should be focused on less risky solutions such as plugging leaky oil wells, energy efficiency for buildings, transport electrification, and renewables that will speed up the green transition.
Governments have spent $4.2 billion on projects that aim to produce blue hydrogen from fossil fuels using CCS .
Industry claims to have technology to capture 90 percent to 95 percent of CO2, but in reality, it's closer to 12 percent .
Globally, governments hand over between $500 billion and $1 trillion in direct fossil fuel subsidies annually , though in 2022 the true figure was closer to $7 trillion .
Norway 's flagship CCS project, the Longship , involves capturing CO2 from waste incineration and cement production that will be shipped and stored offshore.
OCI claims that Norway is expanding CCS to justify more oil and gas expansion for use producing blue hydrogen for export to Europe .
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