• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 10 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days How Far Have We Really Gotten With Alternative Energy
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 9 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
The Rise and Fall of Master Limited Partnerships

The Rise and Fall of Master Limited Partnerships

Master limited partnerships (MLPs) were…

UK Plans First Carbon Capture Project For Mid-2020s

The UK plans to launch its first carbon capture, utilization and storage project by the middle of next decade after the initial CCUS momentum died out earlier in the current decade. That’s according to S&P Global Platts, which quoted the UK’s energy minister, Claire Perry, who spoke ahead of next week’s COP24 conference on climate change in Poland.

The idea of the new carbon capture drive, which has won the support of the International Energy Agency’s head, Fatih Birol, is to capture carbon emissions from carbon-intensive industries--which account for almost a quarter of the world’s carbon emissions--and power plants and either reuse it or store it. One type of storage site could be depleted oil and gas fields in the North Sea.

Perry’s spending plans in this respect include US$25 million (20 million pounds) to be allocated for the installation of carbon capture, utilization, and storage technologies at relevant sites and US$401.57 million (315 million pounds) for decarbonizing these sites. The goal is to start implementing carbon capture, utilization, and storage at scale in the 2030s.

The announcement from the UK energy ministry comes on the heels of a UN report that warned carbon emissions are on the rise again, for the first time in three years. The United Nations Environment Programme reported that carbon emissions were up last year, after three years of declines. This means governments around the world will need to boost their efforts in the direction of arresting this trend and eventually reversing it if there is to be any hope of the world ever accomplishing the goal stipulated in the Paris Agreement on Climate Change of curbing the global temperature rise to 2 degrees Celsius.

UNEP’s Deputy Executive Director commented at the time that “If the IPCC report represented a global fire alarm, this report is the arson investigation. The science is clear; for all the ambitious climate action we’ve seen – governments need to move faster and with greater urgency. We’re feeding this fire while the means to extinguish it are within reach.”

By Irina Slav for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Einstein on November 28 2018 said:
    Atmospheric carbon dioxide does not contribute to atmospheric temperature. The physics is simple, but climatologists do not study the physics of light, collision frequency, and diffusion. Water vapor absorbs more light energy at the same frequency as carbon dioxide. Water vapor overwhelms the carbon dioxide effect.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News