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The US government spent $1.1 billion on carbon capture projects that mostly failed
The GAO has said that federal agencies have spent $684 billion on coal plant carbon capture and storage (CCS) projects that have mostly failed.
www.engadget.com
Coal should be going obsolete because renewable energy is becoming cheaper, but the US government is keeping it afloat with the promise of capturing carbon emissions and storing them underground. Now, the Government Accountability Office (GAO) has said that federal agencies spent $684 billion on coal plant carbon capture and storage (CCS) projects that have mostly failed, Gizmodo has reported. It also spent $438 million on other three CCS industrial projects, two of which were cancelled.
This is what the political left wants more of - they want government allocating capital. The problem is that government has a horrific track record when it comes to allocating resources, as our friend Elon Musk explains in this 43 second video clip:
But Musk doesn't tell you why government is so bad at capital allocation. For that, we need uncle Milty:
Back to the article:
In the end, the GAO recommended more congressional oversight for DOE expenditures on CCS. "Absent such a mechanism, DOE is at risk of expending significant funds on CCS demonstration projects that have little likelihood of success."
LOL, who tf is stupid enough to believe "more congressional oversight" would change anything?