Carbon capture and storage (CCS), and hydrogen are necessary to help achieve the goals of the Paris Agreement. That’s why we’re actively advocating for policies that can help support their growth across the US.
Why do we pair CCS and hydrogen as one advocacy area? Because they go hand-in-hand. Low carbon hydrogen can be produced a number of ways, but the most promising are from renewable power and natural gas where emissions have been captured using CCS. Scaling up hydrogen from natural gas first is a faster road to wide-scale hydrogen adoption, and allows more renewables into the grid while industry transforms.
CCS is a proven technology that captures carbon before it’s emitted into the atmosphere. CCS can help hard to abate industries, like steel production, cut their CO2 and remain competitive in a net zero world. Policy can help scale CCS projects.
The US is home to several states that have the geology to store carbon dioxide in a safe, secure and effective way. bp actively participated in a National Petroleum Council study, that noted the US as having “one of the largest assessed CO2 geologic storage” capacities.
This gives the country tremendous opportunity to deploy CCS and further reduce its carbon emissions and we’re engaging with policymakers to make it happen.
At the federal level, we actively support policy incentives for CCS and hydrogen as well as funding for large scale pilot and demonstration projects, large-scale storage and infrastructure.
We’re also engaging with the US Department of Energy to support efforts to scale CCS and hydrogen across the US.
Illinois and Indiana are well positioned to attract the investment needed to deploy CCS commercially and at scale. Both states have the geological capability to safely store carbon dioxide underground. This provides the state with the opportunity to reduce its carbon emissions, support jobs and promote statewide economic growth.
An existing energy hub for the US, Texas already has the infrastructure in place to transport carbon from production source to storage as well as the technical and industrial know-how to tackle the hurdles of capturing and storing carbon underground.
But all three states need a legal and regulatory framework that provides clarity on key issues that are absent from existing state and federal regulations – yet critical to the commercial development of CCS projects.
Effective legislation can create a framework to accelerate activity by:
We’re engaging with local stakeholders and state policymakers to help bring this important technology to the Prairie, Hoosier and Lone Star states.
bp hosted Indiana Governor Eric Holcomb and Indiana legislative leaders, along with members of the business community for the ceremonial signing of the state’s new CCS law at our Whiting refinery in September.
We worked with a coalition to support passage of the legislation which will encourage future carbon storage projects in the state. This signals to the rest of the United States that Indiana is a leader in the future of energy and bp is a partner of choice to support policies that will help bp and the US achieve our shared net zero ambition. Both Indiana and bp are serious about reducing greenhouse gas emissions, and with CCS, we have another opportunity to decarbonize and grow the economy.