trending Market Intelligence /marketintelligence/en/news-insights/trending/n2ykl-yvlh2ysti1gxxhsq2 content esgSubNav
In This List

House lawmakers introduce bipartisan bill boosting carbon capture technology

Blog

Insight Weekly: US inflation soars; real estate faces slowdown; megadeals drive tech M&A

Blog

Infographic: Q1’22 U.S. Wind Power by the Numbers

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: Path to net-zero; US manufacturing momentum; China's lithium M&A frenzy


House lawmakers introduce bipartisan bill boosting carbon capture technology

A bipartisan bill aimed at advancing carbon capture research and development was introduced in U.S. House of Representatives on May 10.

Reps. Marc Veasey, D-Texas, and David McKinley, R-W.Va., sponsored the Fossil Energy Research & Development Act of 2018, legislation that will bolster funding and provide a program of research, development, demonstration and commercial application for carbon capture technologies.

"Expanding support for federal research and development is crucial to improving and reducing the cost of carbon capture technology to achieve wider commercial deployment in the marketplace," said Jeff Bobeck, co-director of the nonpartisan Carbon Capture Coalition and director of energy policy engagement at the Center for Climate and Energy Solutions.

Bobeck said the bill complements recently passed legislation that would extend 45Q tax credits and increase the value paid out for each tonne of carbon dioxide captured from power plants and industrial facilities.

In March, a bipartisan group of U.S. senators introduced the Utilizing Significant Emissions with Innovative Technologies, or USE IT Act, that aims to promote research and development of carbon capture technologies, including through expedited carbon dioxide pipeline permitting.