The carbon capture and storage (CCS) report comes at a time where energy prices across European member states are varied, but invariably high. We will also begin to struggle reaching our emission reduction targets that we, the legislators have set forth. And finally, CCS is simply at a crossroads in Europe. [pullquote]CCS may not be the answer to youth unemployment or bringing energy prices down, but it has been proven successful in other parts of the world and we should reconsider its role in the EU and what is holding it back here[/pullquote]. I think the Davies report does a fine job in doing that.
Interestingly, this report and the consolidated amendments that covered the difficult parts received wide support from the largest political parties from both the right and left spectrums. There is broad recognition that we cannot write off CCS as a tool just yet. We called on the European commission to reconsider paths to funding, regulation concerns, and questions surrounding transport and storage.
In conclusion, the European commission will respond, but a key factor that this report did not fully address the lack of public support. Regardless if the technology is ready or not, clean or not, and if there is funding or not, without public support, supporting the advancement of CCS in Europe will be a more difficult, uphill battle. This report aims to ensure that reason and a just regulatory system allows member states to make the right decision in securing our energy future.