Private equity firms are proving there’s still plenty of profit in the U.S. coal industry despite a decade of falling demand for the fossil fuel. They are spending billions of dollars buying coal-fired plants on the cheap - and getting paid even when they are not providing.
Energy Minister Angus Taylor launches $50 million fund for carbon capture projects
MonMonday 1
MarMarch 2021 at 5:37am
Angus Taylor (right), Mark Rayson (left) and Marcus Dawe at the launch of the carbon capture and storage fund.
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The federal government has launched a $50 million fund to support the growth of carbon capture projects, which will include projects that reuse carbon dioxide emissions to make new products.
Key points:
The fund is open to all projects that capture carbon
Project that reuse CO2 will compete with those that store it
The Carbon Capture, Use and Storage fund was announced by Energy Minister Angus Taylor this morning in Newcastle at the pilot site for Mineral Carbonisation International (MCI).
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LONDON (Thomson Reuters Foundation) - China, which long targeted rapid industrial growth despite its environmental consequences, now aims to become the global leader in “low-carbon tech for a carbon-constrained world” as it unveils its new five-year plan this week, China analysts said.
That shift is likely to include an accelerated pullback from its role as a major financier of new coal-fired power plants at home and abroad, Isabel Hilton, founder of China Dialogue, a nonprofit news organisation, told an online event on Monday.
China is today the world’s largest emitter of planet-heating gases, responsible for about 28% of total global emissions.