Funding Failure: Carbon Capture and Fossil Hydrogen Subsidies Exposed
Despite 50 years of development and an estimated USD 83 billion in investments since the 1990s, carbon capture has failed to make a dent in carbon emissions. Carbon capture projects consistently fail, overspend, or underperform. In the United States, where most carbon capture projects operate with the help of major federal subsidies, 80% of projects fail due to technical issues, over expenditure, and a lack of financial investment returns. Even if carbon capture functioned as planned, the projects currently operating globally would only capture 0.1% of global emissions.