“CCS has been slow to take off due to the cost of capture and the limited salability of carbon dioxide as a product. Thirty-nine CCS facilities capture CO₂ around the world today, totaling 45 million tons per year, or about one-tenth of one percent (0.1%) of industrial emissions produced globally.”

The Environmental Protection Agency is working on a new rule that would set stringent limits on carbon dioxide (CO₂) emissions from US power plants. Utilities would be required to retrofit existing plants with carbon capture and storage (CCS) technology or to switch to hydrogen fuel. Others call for the use of CCS to decarbonize heavy industry. But the cost of capture and the amount of CO₂ that proponents say needs to be captured crush any ideas about feasibility.…

Ed. note: This post excerpts energy and climate material from the Media Balance Newsletter, a free fortnightly published by physicist John Droz Jr., founder of the Alliance for Wise Energy Decisions. The complete Newsletter for this post can be found here.

Renewables (General):
***The Great Green Energy Transition Is Impossible
*** Why the intermittency problem can’t be solved
***Adequate Storage for Renewable Energy is Not Possible
*** Across the country, a big backlash to new renewables is mounting
*** The U.S. Has Billions for Wind and Solar Projects. Good Luck Plugging Them In.
*** Experts: California’s grid faces collapse as leaders push renewables, EVs
Bangladesh to increase coal power after renewable problems
Dispatchable Intermittent Renewables
Green Energy: Greatest Wealth Transfer to the Rich in History

Wind Energy— Offshore:
*** Thar She Blows
*** CFACT/Heartland Filing Against Dominion’s VA Offshore Project
Why Are Whales Dying Off the East Coast?…

“Since 2000, the world has spent more than $5 trillion on green energy. More than 300,000 wind turbines have been erected, millions of solar arrays were installed, more than 25 million electric vehicles (EVs) have been sold, hundreds of thousands of acres of forest were cut down to produce biomass fuel, and about three percent of agricultural land is now used to produce biofuel for vehicles.”

We are in the midst of history’s greatest wealth transfer. Government subsidized wind systems, solar arrays, and electric vehicles overwhelmingly benefit the wealthy members of society and rich nations. The poor and middle class pay for green energy programs with higher taxes and higher electricity and energy costs. Developing nations suffer environmental damage to deliver mined materials needed for renewables in rich nations.

Since 2000, the world has spent more than $5 trillion on green energy.…

” … the limited assurance of these public accountant’s sustainability letters provides, in certain respects, even less assurance than detailed agreed-upon procedure letters…. [T]he limited assurance letters in these sustainability reports contain very little detailed information and only reach vague, double-negative conclusions regarding the findings.”

– Michael Kraten, “Sustainability Reports and the Limitations of ‘Limited’ Assurance.” The CPA Journal (July 2019).

A recent feature for The CPA Journal (July 2019) unmasks the most politicized area of modern accounting, sustainability accounting. [1]

Following are excerpts from an essay by Michael Kraten (PhD, CPA, CSVP; professor of accounting and chair of the accounting, finance, and economics department at Houston Baptist University), “Sustainability Reports and the Limitations of ‘Limited’ Assurance.”

• “How many standards can a sustainability accountant possibly follow?