Energy Infrastructure Act Reported Out of Senate Energy and Natural Resources Committee on Bipartisan Basis
July 14, 2021 | Legislation
The following statement can be attributed to Brad Crabtree, Director of the Carbon Capture Coalition, in response to the Senate Energy and Natural Resources Committee passage of the Energy Infrastructure Act:
“Following today’s markup of the Energy Infrastructure Act, the Carbon Capture Coalition is encouraged by the bipartisan show of support for the measure’s groundbreaking provisions to scale deployment of carbon capture, removal, utilization and associated CO2 transport and storage infrastructure.
“The Energy Infrastructure Act takes us an important step closer to securing the full suite of carbon management tools needed for our industrial, energy and manufacturing sectors to remain on track to reach net-zero emissions by midcentury.
“The bill includes critical measures to fund the buildout of large-scale CO2 transport and storage infrastructure, as well as previously authorized expansions of research, development and demonstration programs for carbon capture, removal, utilization and geologic storage passed in the bipartisan Energy Act of 2020. For the first time, this legislation would also establish regional hydrogen and direct air capture hubs to facilitate widespread deployment of these critical technologies in regions across the country.
“Separate analyses done by the Rhodium Group reveal the potential for creating tens of thousands and hundreds of thousands of jobs and generating hundreds of billions in investment from carbon capture and direct air capture deployment, respectively, if these technologies are deployed at levels needed to meet net-zero targets. In that same vein, this legislation presents Congress with the opportunity to ensure the long-term viability of important industries that safeguard millions of existing high-wage jobs for American workers, providing stability for their families, communities, and regional economies.
“Together with passage of key complementary tax provisions in both President Biden’s American Jobs Plan and other broadly-supported bipartisan legislation that would provide a direct pay option, multiyear extension and increased values for the 45Q tax credit, enactment of the Energy Infrastructure Act would position the U.S. for continued leadership with the most far-reaching portfolio of policies in the world to advance carbon management as an essential climate, jobs and investment strategy.
“The Carbon Capture Coalition recognizes and applauds the hard work of the Senate Energy and Natural Resources Committee in advancing this legislation to expand and accelerate deployment of carbon management technologies and infrastructure to meet midcentury climate goals. We look forward to continued work with the Committee on a bipartisan basis to advance this bill.”
The Carbon Capture Coalition is a nonpartisan collaboration of more than 80 businesses and organizations building federal policy support for economywide deployment of carbon capture, removal, transport, utilization, and storage. Our mission is to reduce carbon emissions to meet midcentury climate goals, foster domestic energy and industrial production, and support a high-wage jobs base through the adoption of carbon capture technologies. Convened by the Great Plains Institute, Coalition membership includes industry, energy, and technology companies; energy and industrial labor unions; and conservation, environmental, and energy policy organizations.