Are current legal frameworks too restrictive for CCUS projects? What permitting and tax credit reform needs to happen to make things easier?
Interchange Recharged
Wood Mackenzie
4.8 • 535 Ratings
🗓️ 8 April 2025
⏱️ 47 minutes
🧾️ Download transcript
Summary
“If you don't think in 15 years that we're going to value decarbonisation, or if you're worried about the 45Q, it's pretty tough to write that multi-billion dollar cheque,” says Peter Findlay, Director of CCUS Economics at Wood Mackenzie. In this week’s Interchange Recharged, Peter sits down again with host Sylvia Leyva Martinez to look at the challenges for new CCUS projects. It’s tough, as Peter says, because of the regulatory frameworks, financial mechanisms and incentives that currently exist in the US.
To look at these and go deep on the legal barriers for CCUS deployment, Peter and Sylvia are also joined by Liz McGinley, partner at Bracewell Law Firm. Liz leads the firm’s tax practice and the energy transition team, and is renowned for her expertise in carbon capture and IRA tax credits.
Liz discusses the intricate details of tax credits and regulatory updates while Peter reflects on the financial challenges of decarbonisation projects. In this episode:
- What will future legislative shifts mean for the industry’s growth?
- How might regulatory shifts under the Trump administration impact clean energy and CCUS projects, including potential changes to clean hydrogen, fuels, and power regulations?
- How do the costs and complexities of pre-combustion and post-combustion CCUS projects differ, and how are financial incentives structured for each?
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Transcript
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| 0:00.0 | Clean hydrogen, clean fuels, clean power. |
| 0:03.4 | Those may all be reconsidered, revised under Trump administration. |
| 0:09.4 | A lot of those projects incorporate CCUS. |
| 0:12.9 | If you don't think in 15 years that we're going to value decarbonization, or if you're worried about the 45Q, |
| 0:18.0 | it's pretty tough to write that multi-billion dollar check sometimes for these |
| 0:22.0 | really big CCUS projects. |
| 0:29.7 | In November last year, I sat down with Peter Findlay, director of CCUS economics at Wood |
| 0:35.8 | McKenzie, to talk about carbon capture, utilization, and storage, CCUS. |
| 0:40.6 | We wanted to answer the question of whether CCUS is the only way of feasibly achieving net zero, |
| 0:47.2 | especially as the phase-down of fossil fuels continues around the world, |
| 0:51.2 | and how large-scale CCUS projects could incorporate into the energy system. |
| 0:56.3 | In that show, which you should listen back to right after this one, we focus on the technology |
| 1:01.3 | and the financial barriers. Today, we're revisiting this topic, but with an in-depth exploration |
| 1:07.0 | of the permitting and legalities that are helping and hindering CCUS deployment. |
| 1:12.2 | The technology is there. So is it permitting bottlenecks that are stopping CCUS from going mainstream? |
| 1:18.1 | Or are there any other obstacles to overcome? I'm Siviela Leva Martinez, principal analyst at Wutmax. |
| 1:24.1 | This is Interchange Recharged. So, to answer the questions we all want answered |
| 1:29.4 | when it comes to CCUS, we've got Peter Findlay back on the show. Peter, it's great to have you here |
| 1:34.7 | again. Thanks for having me. We're also honored to be joined by Liz McGinley, one of the world's top |
| 1:40.2 | legal experts on carbon capture and IRA tax credits. Liz is a partner in the New York |
| 1:45.1 | Office of the Bracewell Law firm and leads the firm's tax practice and its energy transition |
| 1:50.1 | team. Liz is an absolute honor to have you. Thank you so much for joining us. |
... |
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