Executives hold shovels during a groundbreaking ceremony at the Occidental Petroleum and 1PointFive carbon removal plant in Ector County, Texas, on April 28th, 2023. | Image: Jordan Vonderhaar / Bloomberg via Getty Images
Attempting to filter enough carbon dioxide out of the atmosphere to make a significant impact on climate change would require hundreds of billions of dollars in government spending, according to a new report.
The suite of technologies emerging to attempt that task all fall under an umbrella called carbon dioxide removal, or CDR. It’s still risky and astronomically expensive. But there’s been growing chatter about it, particularly as the US continues producing record amounts of oil and gas.
According to the new report by research firm Rhodium Group, the US needs to spend roughly $100 billion a year on CDR in order to scale up to a level that would help the country meet its climate goals. A majority of that needs to come in the form of...
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