Govt To Waste £22bn On Unproven Carbon Capture
October 4, 2024
By Paul Homewood
Who would have guessed we have a £22bn black hole?
The government has pledged nearly £22bn for projects to capture and store carbon emissions from energy, industry and hydrogen production.
It said the funding for two "carbon capture clusters" on Merseyside and Teesside, promised over the next 25 years, would create thousands of jobs, attract private investment and help the UK meet climate goals.
Sir Keir Starmer, due to visit the North West on Friday with Chancellor Rachel Reeves and Energy Secretary Ed Miliband to confirm the projects, said the move would "reignite our industrial heartlands" and "kickstart growth".
But some green campaigners have said the investment would "extend the life of planet-heating oil and gas production".
Up to £21.7bn will subsidise three projects on Teesside and Merseyside to support the development of the clusters, including the infrastructure to transport and store carbon.
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