CARBON CAPTURE, UTILIZATION AND STORAGE (CCUS)
CCUS can be considered the “lynchpin” to our goal of carbon neutrality. CCUS, at scale, will be important to the future of existing industries and to enable system-wide carbon management and emissions reduction in the focus areas.
The movement of people and goods by land, air, waterways, sea and rail is today largely fueled by hydrocarbon consumption. The transportation segment is the largest emitter of CO2 and methane and would be significantly impacted by carbon neutral electricity, hydrogen and alternative fuels, and new low carbon fuel supplies enabled by carbon capture.
Pore space ownership, royalties, and liability issues must be resolved in order for Texas to pursue a path toward a viable CCUS industry.
The education and skills development of the workforce of the future underpins all of these objectives. Jobs, economic growth and our quality of life depend upon a skilled workforce equipped to succeeding the carbon neutral energy future right here in Texas, particularly in new products and growth of new industry.
INVESTMENT AND ECONOMIC INCENTIVES
Enabling support by the state for the legal, regulatory and economic framework will serve to create the CCUS industry through state incentives to promote transformative economic growth and emissions reductions.
Demand for electricity in the industrial, commercial and residential markets will continue to grow and carbon capture is essential. Of critical importance is that the electricity be delivered in a reliable and resilient manner, thus requiring the rapid growth of carbon neutral energy storage and the continued need for baseload power that is carbon neutral.