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Prospects for Carbon Capture and Storage Technologies

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  • Newell, Richard

    (Resources for the Future)

  • Anderson, Soren

Abstract

Carbon capture and storage (CCS) technologies remove carbon dioxide from flue gases for storage in geologic formations or the ocean. We find that CCS is technically feasible and economically attractive within the range of carbon policies discussed domestically and internationally. Current costs are about $200 to $250 per ton of carbon, although costs are sensitive to fuel prices and other assumptions and could be reduced significantly through technical improvements. Near-term prospects favor CCS for certain industrial sources and electric power plants, with storage in depleted oil and gas reservoirs. Deep aquifers may provide an attractive longer-term storage option, whereas ocean storage poses greater technical and environmental uncertainty. Vast quantities of economically recoverable fossil fuels, sizable political obstacles to their abandonment, and inherent delay associated with developing alternative energy sources suggest that CCS should be seriously considered in the portfolio of options for addressing climate change, alongside energy efficiency and carbon-free energy.

Suggested Citation

  • Newell, Richard & Anderson, Soren, 2003. "Prospects for Carbon Capture and Storage Technologies," RFF Working Paper Series dp-02-68, Resources for the Future.
    • Handle: RePEc:rff:dpaper:dp-02-68
    as

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    File URL: http://www.rff.org/RFF/documents/RFF-DP-02-68.pdf
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    References listed on IDEAS

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    1. McFarland, J. R. & Reilly, J. M. & Herzog, H. J., 2004. "Representing energy technologies in top-down economic models using bottom-up information," Energy Economics, Elsevier, vol. 26(4), pages 685-707, July.
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    More about this item

    Keywords

    carbon; capture; storage; sequestration; climate change; technology;
    All these keywords.

    JEL classification:

    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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