The Carbon Capture Rabbit Hole and the IEEFA Report with Analyst Bruce Robertson

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Carbon capture and storage is often thought of as a new technology to help fight climate change. But it has been around for fifty years and was first developed by gas companies and used to enhance oil recovery from depleted fields. Today, tax credits are being offered to subsidize the technology as a response to global warming. A September 1st story in The Guardian highlighted a report by the Institute for Energy, Economics and Financial Analysis on Carbon Capture technology.

The report details how carbon capture and storage schemes, which are key in many governments' plans to address climate change, are not a true solution to the climate crises and may even increase carbon emissions in the long run.

In this episode of Breaking Green, we will talk with Bruce Robertson, one of the authors of the report.

Bruce Robertson is an energy finance analyst of the GAS/LNG sector for the Institute for Energy Economics and Financial Analysis. He has been an investment analyst, fund manager and professional investor for over 36 years. He has worked with Perpetual Trustees, UBS, Nippon Life Insurance and BT. He has appeared as an expert witness before a number of government enquiries into energy issues.
This podcast is produced by Global Justice Ecology Project.

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Resources
September 1st, 2022 article in The Guardian.
IEEFA report

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Chapters

1. Breaking Green Introduction (00:00:00)

2. Episode Introduction (00:00:26)

3. Bruce Robertson Bio (00:01:12)

4. What is IEEFA (00:01:40)

5. Carbon Capture's Origin (00:02:33)

6. Enhanced Oil Recovery (00:05:00)

7. Scope 3 Emissions (00:06:28)

8. EOR Will Create More CO2 (00:10:25)

9. CCS v CCUS (00:13:24)

10. Break (00:17:39)

11. Scope of Report's Research (00:18:46)

12. Norway's Unique Tax and Regulatory Structure (00:22:27)

13. Potential for Accidental and Disasterous Release (00:24:47)

14. Public Vs Private Longterm Liability and Cost (00:28:07)

15. Current Green Credits for Enhanced Oil Recovery (00:29:46)

16. Global Problem (00:32:04)

17. EOR Flies in the Face of IEA (00:33:13)

18. Oil Lobby (00:37:42)

19. Direct Air Capture not Moving the Needle (00:38:47)

20. Summarizing the Research (00:40:22)

21. Outro (00:41:12)