Not in a way that actually negates carbon emissions - as odd as that sounds. It's current state in industrial development allows it to act as a sort of filter for carbon being released on-site, but this situation is ultimately similar to how an electric car generate less CO2 when running, but generates much more than a conventional ICE car in the mining, transportation, refinement, final manufacture, etc. of the raw materials that make up its battery and electrical components. The correct answer is to end industrial CO2 emissions because they will never be zero (or negative, as the IPCC's most optimistic modeling pretends is realistic).
Note that there is not a way that capture and storage can scale to meet business as usual economics and development. I'd liken the phrase 'We already have Carbon Capture technology' to saying we already have warp drive technology because the EmDrive hypothesis exists.
To save space and not be pedantic, please read the Limitations section of the wiki article on CCS.
en.wikipedia.org/wiki/Carbon_capture_and_storage#Limitations_of_CCS_for_power_stations
I'd even encourage you to check the examples of large scale CCS projects on the wiki page. The highest capacity facility (Century Plant) is in the US and, well, here, read about it from MIT-
sequestration.mit.edu/tools/projects/century_plant.html
This negates the carbon from roughly one coal-fired power plant. It is a multi-billion dollar investment that required a fuckton of energy to build and maintain.
1 Mt/yr is the combined emissions of ~61,000 average Americans unless my math here is really bad. 16.4 tonnes per Amerilard as per-
en.wikipedia.org/wiki/List_of_countries_by_carbon_dioxide_emissions_per_capita
If that's the case, and there are 325.7 million Amerilards, then it takes 305000 Amerilards to negate the capture of this plant, or to put it differently, this one plant can negate 0.00093644458% of the emissions of the average Amerilards.
But remember, most of the capture this plant does is just to capture its own emissions.
They currently use the CO2 in MORE energy intensive projects (that was from the MIT link).
Remember too that much more CO2 emissions come from industry and shipping than from the average Amerilard.
Don't get me wrong here - the rulers of this world probably should be focused on creating the best and most energy efficient carbon capture and storage technology that can possibly be fabricated if they want our species to survive into even the medium term, but in order to get current resource consumption down to a level where this might even be remotely effective would require an end to global trade, consumerism, capitalism, the entirety of the previously ordered structure of human society, and the death of ~7 billion people in a very short order. We'd essentially have to speciate, rewire our monkey brains to not be dopamine addicted reward seekers in order for this kind of a change to be workable. Truth is, business as usual until civilization collapses is far more likely.
You need to take into account feedback loops, how many have already been triggered, and how quickly can the multiple miracles of energy and CCS technology delineated above be invented, scaled up, and rolled out in order to keep the other factors that are warming our planet from entering a runaway state (assuming this isn't already the case, which it may very well be). What happens in the meantime as shifts in climate cause further global instability? This is already happening - how does it impact the timeline of these globe-spanning infrastructure projects?
I mentioned in a previous post the lingering denial of the reality these scenarios present that even climate scientists still harbor. It is a human thing, to be biased towards positive thinking. This trait may ultimately be one of the biggest factors in our species' demise.
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