THREAD: 1/5 Another consultation, on proposed changes to the EU #ClimateLaw, closes tomorrow. These changes will:
🙈 open the door to international carbon offsets
🙉 endorse so-called ‘permanent removals’ in the EU carbon market.
Read on to find out what this means 😱
ec.europa.eu/info/law/bet...
👇

Thanks to @aleddilwyn.bsky.social for the analysis of the DNV report used above.

Finally, that headline: 4x #CCS growth in next 5 years.

Unbelievable growth for a proven to fail technology.

The DNV report shows
❌In the 10 years between 2012 & 2022 CCS capacity didn't even double
❌CCS failure rates are growing, not falling
❌Capture rates only reach c. 60%

Oxy is proposing to use the majority of the CO2 captured from Stratos for oil extraction. You can read more on DAC and Stratos in this briefing from @ciel.org

www.ciel.org/wp-content/u...

Away from DNV's report, WEF mention the oil company OXY-owned Stratos Direct Air Capture project. OXY's CEO makes it very clear DAC is a way to keep oil flowing, saying in Mar 2023: "[DAC] gives our industry a license to continue to operate for the [next] 60, 70, 80 years.”

The article states "CCS is critical to the energy transition."

With the vast majority (85% according to
DNV) of current #CCS capacity being used for Enhanced Oil Recovery (ie producing more oil) the emphasis is clearly on prolonging the current fossil fuel energy.

WEF highlight #CCS for decarbonising cement, steel & chemical sectors. But fossil fuel production/use makes up 2/3s of CCS capacity by 2030 in the DNV predictions. CCS in gas processing doubles

“hydrocarbon production drives uptake” not decarbonising hard to abate industry