Oxy estimates that the project will separate 500,000 tons of carbon dioxide per year and cost about $1 billion to build. Adding in operations and maintenance, we, and others, estimate the total costs will be more than $500 per ton of avoided carbon dioxide.
As a point of reference, if you replace a 10mi/16km drive to work with a bicycle commute, per year you’d save 356kg of CO2. Source
In other words, that’s $1 billion to remove as much carbon as 1.4 million people replacing a drive to work with a bike ride to work and $250 million dollars in each subsequent year.
Edit: Another comparison is that running that carbon capture facility is equivalent to offsetting 0.134 coal plants in one year. It is much, much cheaper to invest in renewable energy and reduce car dependency than to spend on carbon capture.
As a point of reference, if you replace a 10mi/16km drive to work with a bicycle commute, per year you’d save 356kg of CO2. Source
In other words, that’s $1 billion to remove as much carbon as 1.4 million people replacing a drive to work with a bike ride to work and $250 million dollars in each subsequent year.
Edit: Another comparison is that running that carbon capture facility is equivalent to offsetting 0.134 coal plants in one year. It is much, much cheaper to invest in renewable energy and reduce car dependency than to spend on carbon capture.
Source
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