Petroleum producers demand support for carbon capture technology

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illuminem summarises for you the essential news of the day. Read the full piece on Euractiv or enjoy below:

🗞️ Driving the news: Petroleum producers are urging governments to provide stronger policy and financial support for carbon capture and storage (CCS), warning they cannot meet deployment targets without public backing

🔭 The context: Oil and gas companies argue that scaling CCS technology requires large upfront investment, regulatory clarity, and infrastructure development
• Industry groups say current deployment goals are unrealistic without subsidies, tax incentives, and clearer long-term policy frameworks

🌍 Why it matters for the planet: CCS is considered a key tool for decarbonizing hard-to-abate sectors such as heavy industry, cement, and fossil-fuel power generation
• However, critics argue that relying heavily on CCS could prolong fossil fuel production instead of accelerating the transition to renewable energy

⏭️ What’s next: Debates around CCS support are likely to intensify as governments design net-zero strategies and industrial decarbonization plans
• Policymakers must balance funding for carbon capture with investments in renewables, electrification, and energy efficiency

💬 One quote: “Without strong policy support and public funding, the industry will struggle to meet carbon capture deployment targets.” - Ben Rubin, Executive Director of the Carbon Business Council

📈 One stat: Global climate scenarios suggest CCS capacity must scale to billions of tonnes of CO₂ captured annually by mid-century to meet net-zero goals

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