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By Mish Shedlock of MishTalk

The lie of the day is from the EPA: Carbon capture will pay for itself (thanks to IRA subsidies). No, it won’t even with subsidies. Expect blackouts and a higher price for electricity.

Suite of Standards to Raise Costs, Reduce Output

Let’s take a dive into the EPA news release Biden-Harris Administration Finalizes Suite of Standards to Reduce Pollution from Fossil Fuel-Fired Power Plants

Final EPA Rule

The EPA’s Final Rule is only 1,020 pages long. There were 953 references to carbon capture and sequestration/storage (CCS).

I went through some of those 953 references and found these tidbits.

I confess. I did not read all 1020 pages and don’t intend to. I have seen enough by reading through a dozen or so of the 953 references to CCS.

Returning to the Biden-Harris document I note references to “reasonable cost” and “largely offset the cost of CCS.” Thus CCS is admittedly not cost effective even with subsidies.

IISD Sustainable Development

For a rebuttal to the above Biden claims, please consider the International Institution for Sustainable Development article Why Carbon Capture and Storage Is Not a Net-Zero Solution for Canada’s Oil and Gas Sector

The above doc largely pertains to carbon capture in Canada’s Oil and Gas Sector, not electricity production, bit it is instructive on the difficulty of and inefficacy of carbon capture.

The lead CCS image is from that post.

Biden EPA’s Plan to Ration Electricity

The Wall Street Journal calls the CCS mandate Biden EPA’s Plan to Ration Electricity

The Inflation Reduction Act Keeps Biting in Predictable Ways

Biden plans to reduce inflation by raising costs, producing less electricity when more is needed, force people into EVs without a capable grid, pipeline captured carbon when the pipelines don’t exist and allegedly increase reliability.

It’s so stupid even some Democrats are concerned. Well not to worry, this can all be done at a “reasonable cost” with costs “largely offset” thanks to the IRA.

Expect blackouts and a much higher price for electricity as a key component of “reasonable cost”.