New York Times: Environmentalists Fear Subsidies for Carbon Capture Won’t Be Checked

Some activists are questioning whether the federal government can accurately verify a tax program for facilities that store planet-warming gases.

Lucrative new tax subsidies for companies that catch the planet-warming gas carbon dioxide and store it deep underground were one of the few aspects of President Biden’s 2022 climate legislation that the oil industry embraced.

The potential tax benefits spurred the industry, one of the largest contributors to the current climate crisis, to invest billions of dollars in the process, called carbon capture and sequestration.

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Read the full story here.

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