14 May BPC Action Statement on the Introduction of the Fossil Energy Research and Development Act in Energy and Environment
BPC Action applauds Reps. Marc Veasey (D-TX), David McKinley (R-WV), and Eddie Bernice Johnson (D-TX) for introducing H.R. 5745, the Fossil Energy Research and Development Act. We are pleased to see proposed funding increases for carbon utilization and advanced energy systems research to stimulate future carbon capture, utilization, and storage projects.
As nations increasingly seek to decarbonize their economies, carbon capture and utilization technology is imperative to reduce greenhouse gas emissions. Global energy demand is expected to grow substantially over the next several decades, and despite the rapid growth in renewables, fossil fuels are projected to remain a significant role in meeting these needs. We applaud the efforts to facilitate greater development and deployment of advanced carbon capture technologies to achieve our economic and environmental objectives.
BPC Action looks forward to working with Congress to pass this important legislation.