11 Apr EFFECT Act is Important Step to Emission Reduction in Energy and Environment
BPC Action applauds Senate Energy Committee Chair Murkowski (R-AK) and Ranking Member Manchin (D-WV) for introducing the Enhancing Fossil Fuel Energy Carbon Technology Act (the EFFECT Act). The EFFECT Act would facilitate greater development and deployment of advanced carbon removal and carbon capture technologies to achieve economic growth and emission reductions.
Importantly, the bill provides incentives for transformational and large-scale carbon capture, utilization, and storage projects to stimulate further technology advances in this space and establishes a dedicated research program for carbon removal. The bill also authorizes a vital prize competition for direct air capture technologies that remove carbon dioxide from dilute sources such as the atmosphere on a significant scale.
As nations increasingly seek to decarbonize their economies, carbon removal and carbon capture, utilization, and storage technologies are imperative to reduce carbon pollution. Global energy demand is expected to grow substantially over the next several decades and fossil fuels are projected to retain a significant role in meeting these needs. A portfolio of low-, zero-, and negative-carbon technologies will be needed to achieve global emission reduction targets while making our economy cleaner, more efficient, and more competitive worldwide.
BPC Action looks forward to working with Congress to pass this important legislation