ABO applauds U.S. Reps. Scott Peters (D-CA) and Matt Salmon (R-AZ) for recently introducing a bill designed to amend the Energy Policy Act of 2005 that would spur research and development of carbon utilization technologies. The act will be called the ‘‘Carbon Capture Research and Development Act.’’
The Peters-Salmon bill would amend the Energy Policy Act of 2005 to require the Secretary of Energy to consider the objective of improving the conversion, use, and storage of carbon dioxide produced from fossil fuels in carrying out research and development programs under that Act.
Current approaches to emissions reduction that treat carbon like waste are energy-intensive and expensive, increasing costs for utilities and ultimately, ratepayers. Carbon utilization technologies like algae, conversely, convert waste carbon into marketable products. This approach can offset the cost of the carbon capture technology – and in some cases create an ongoing revenue stream. In both cases, ratepayers are spared.
For more information about the new bill, check out ABO’s press release here.