EPA plan to end GHG reporting would hurt carbon capture efforts
The proposal from the Environmental Protection Agency (EPA) to end the Greenhouse Gas Reporting Program (GHGRP) is in the works. The proposed end to the program would remove the requirement by carbon emitting plants to declare their carbon emissions. While the EPA suggest potential savings of $2.4 billion, such a move would likely impact the carbon capture and storage sector.
Significant investments to obtain the Section 45Q tax credit for carbon reclamation under prior requirements total about $77.5 billion. Thanks to reporting based on previous EPA standards, the carbon management industry has seen long-term success within reach. That success appears to be jeopardized by the proposed removal of the GHGRP, which requires an annual report of carbon emissions.
The proposal favors the petroleum and natural gas industries, citing a potential saved $256 million each year in those sectors. The proposal follows the EPA’s adoption of the stance that carbon emissions do not pose a threat to human health.
