Guest contribution by Willis Eschenbach (@weschenbach on X – they said “Ups, our bad” and reactivated my report.
Let’s take a deep, calming breath and look at the economic magic trick of the decade: Carbon Capture à la King Charles and Prime Minister Starrer. Image This: The British government is thriving £ 21.7 billion (which is by chance almost $ 29.3 billion Yankee Bucks) in two large, green steel and concrete machines in tess ideas and Merseyside. These beauties, if (if) fire in 2028, will protrude up to 8.5 million tons of CO₂ from the slipstream each year. This is referred to as “CCS” to record the carbon cover and memory.
Oh, and did I mention that you pump the CO2 off the coast and inject into the surface? The CO2 is injected in the endurance limestone conductor, a geological formation under the North Sea is around 1,300 to 1,500 meters below the sea floor … and they say that there is a “99.9% chance” that this method actually works. And you know that because your Whiz Bang computer models say this.
Now I can already hear the thundering applause from the well-intentioned climate cruises. Make yourself. This annual route? It is a tiny 0.02% of global CO₂ emissions – yes, friends, two hundredths of percentage. For those who play at home, even if the plant runs flawlessly for two decades, the total number of lifespan is 170 million tons of CO₂ – a decline in the atmospheric bucket.
Here the mathematical calculations make tragicomedy to farce.
The estimated running costs are $ 270 per ton, without counting the preliminary reduction costs. Stack the running costs and the capital expenditure of $ 29 billion, and Great Britain stares at the run of 75.2 billion US dollars over 20 years or about $ 443 per ton.
Eight and a half million tons per year are $ 443 per ton in an ongoing effort in Great Britain of US dollar per year. Name it four billion dollars a year – the government’s participation, so you know that it will be so much, probably more.
Think of all the good that could do money. People don’t know how big four billion dollars are. Here is an example.
Use a water well at the village level in Africa. Name it twenty kilobucks as soon as all palms are greased.
Four billion dollars are sufficient to reach a fountain at the village level in a total of two hundred thousand villages.
In other words, Great Britain has about eight thousand cities and cities in which 1,000 to 100,000 people are included.
Four billion is sufficient to give each of these eight thousand cities and cities a half million dollars (£ 375,000 each) … every year. You assume that your city could do half a mega every year to repair potholes or whatever?
And instead of drilling water wells or repairing water wells or doing one of the other a hundred things that would actually make a difference in the real world that four billion dollars are not only blown on average, but on average Every year for the life of the plantto follow a splinter of the world’s atmospheric CO2.
How small a splitter? Too small to measure evenly.
Let’s be ambitious. Let us assume for a moment that the planet’s political decision -makers lose their collective heads and try to scale these millions of tons of CO2 to planets in billions of tons of CO2.
In order to capture and save emissions worth 37 billion tons worth 37 billion tons of these tariffs, it would cost cool $ 16.3 trillion a year. You read that correctly. This is “trillions”, with a “t”, not a typo. Per year. Forget new schools, streets or hospitals. We will put pipeline to Greenland and borrow from Marsians to have the CCS measuring devices rotated.
In summary: The British flagship -ccs installation will follow the annual emissions so winically that they would find larger fractions in a decimal quiz at a price per ton that they would expect on a luxury cruise. Multiply this to the global scope and they are deep into the financial Badland.
But take heart! Even if you cannot afford gas, food or electricity, to keep the atmospheric needle from twitching around 16 trillion dollars a year – maybe – maybe -.
Or her good British people could just exhale quietly, finance someone else the revolution and repair their potholes.
Best for all
w.
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