Amidst the din of crashing oil prices and rising unemployment, new carbon capture projects whisper hope in fossil energy-producing states across the US.
While few in number, the CCUS facilities under development right now represent an opportunity for oil-producing regions to play to their strengths, pivot away from their reliance on volatile petroleum markets, develop a more sustainable and diversified economy, and advance climate technologies with national and global significance.
Combating climate change represents a $26 trillion global opportunity over the next decade, and one that fossil energy-producing states investing in CCUS projects will directly benefit from. If we listen to scientists who agree that it will be extremely difficult to keep global warming to 1.5 degrees Celsius without CCUS, the long-term prospects for more projects in fossil energy-producing states is high.
CCUS projects like the ones in Wyoming, North Dakota, and Texas are the vanguard of a new carbon economy and are harbingers of an economic future we need.
They are a much-needed weapon in the fight against climate change, particularly well-suited for fossil energy-producing states.
They showcase the very real and tangible benefits of a new carbon economy to oil-producing regions and the country as a whole.
They merge local interests and politics in historically conservative states with the national common good.
Most importantly, they envision a United States united against climate change.
Hyperion Search build teams for breakthrough clean technology companies in a number of nascent, but rapidly developing industries including Long Duration Storage, Geothermal and CCUS.
If you'd like to learn more about our approach and track record, please get in touch.
It’s true that a shift toward cleaner energy is vital for national climate goals, and some of the economic benefits will undoubtedly benefit oil-patch communities. But that’s little comfort for the thousands of oil workers whose jobs are evaporating right now and may never return—especially those who have a hard time seeing how they fit into clean energy industries in which they have no experience. It begs the question what sort of clean energy jobs will come to states with abundant land, a low concentration of people, and an economy heavily invested in fossil fuel extraction