GAO report highlights success of ADM’s ethanol CCS project
Summary
The GAO completed the study due to provision included in the Energy Act of 2020 that directed the office to review DOE’s practices, successes, failures, and any improvements in executing CCS demonstration projects. “For these power sector projects, the GAO report highlights the lack of additional federal policy support beyond DOE cost-share funding as a major barrier to their success. As a result, these projects were unable to secure necessary private financing at a time when natural gas prices were falling and anticipated federal climate policy never materialized. “The bipartisan infrastructure package enacted by Congress at the end of last year includes increased federal funding for commercial-scale demonstration and builds upon the 2018 legislation revamping the 45Q tax credit. To the contrary, it validates important successes to date and highlights opportunities to augment federal policy and improve management and oversight to ensure that we develop and deploy the carbon capture projects necessary to meet midcentury climate goals.” A full copy of the report is available on the GAO website.