trending Market Intelligence /marketintelligence/en/news-insights/trending/jBHupfpziQe-8qEM-UPk7w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

US senators propose bipartisan carbon capture bill for gas-fired power plants

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020


US senators propose bipartisan carbon capture bill for gas-fired power plants

Four U.S. senators are backing a bipartisan bill aimed at spurring advancements in carbon capture and sequestration technology for natural gas-fired power plants.

Senate Bill 1685 — titled the Launching Energy Advancement and Development through Innovations for Natural Gas, or LEADING, Act was introduced May 23 by Sens. Chris Coons, D-Del., John Cornyn, R-Texas, Bill Cassidy, R-La., and Kyrsten Sinema, D-Ariz. It has been referred to the Senate Energy and Natural Resources Committee.

The legislation would task the U.S. Energy Department with creating a program to develop carbon capture and sequestration, or CCS, technology for natural gas-fired generating facilities with the goal of accelerating its commercial application through private sector demonstration projects.

CCS technology can capture up to 90% of the carbon dioxide emissions produced from the use of fossil fuels in electricity generation and industrial processes, preventing the CO2 from being released into the atmosphere where it would contribute to climate change. The International Energy Agency has estimated that 14% of global greenhouse gas emissions reductions will need to come from CCS technology by 2040 to limit global warming to 2 degrees C above preindustrial levels.

Nearly 30% of all U.S. carbon dioxide emissions in 2017 were produced by natural gas, which ranked second that year behind petroleum and ahead of coal after accounting for industrial processes, according to data from the U.S. Environmental Protection Agency. Natural gas now is the main source of electricity in the U.S., generating 35% of power in 2018, according to the U.S. Energy Information Administration.

"The LEADING Act is critical to near-term reductions of emissions from our electricity and industrial sectors, and will help power innovation and create jobs," Coons said in a statement.

The bill specifically would require the DOE to solicit applications for demonstration projects and submit a report to Congress detailing its applicant evaluation methods, expected goals for technology deployment, estimations of project costs, project timelines and further legislative recommendations, among other things.

Meanwhile, the U.S. Treasury Department on May 2 issued a request for comments as it develops final guidance for the 45Q tax incentive for CCS technology deployment as modified by the U.S. Congress in 2018. That guidance is necessary to give project developers and investors certainty that their CCS projects can qualify for the new credit.