Carbon Extraction Works!
Or why I have faith in technology
This is huge. According to reports, the Swiss company Climeworks has become the first company to remove carbon from the air and deposit it underground where it will turn into rock, permanently locking it away. The implications go way beyond just getting the carbon out of the air. I’ll explain in a minute.
I know, I know. “It’s way too expensive!” many will say. “It gives the oil companies a free pass!” others will complain. “It will never scale!” others will argue.
I will remind you that not that long ago, the argument was: “It’s impossible!” I guess we’ve discovered that’s not true.
As with all new technologies, the first pass is very expensive and the challenges of scale are critical. These are normal problems of technological development. First, cell phones were impossible, then they weren’t. Then, cell phones were way too expensive, then they weren’t. Then, the network couldn’t handle them and scaling could not work, then people figured it out. We are at a very normal, predictable place in the development, deployment, and commercialization of new technology with carbon capture, and the reality of what Climeworks has done should be celebrated. Over time, this too will scale and costs will come down. They always do, and this is no different.
