Fossil Carbon Emissions Can Be Neutralized Without a Carbon Tax or Carbon Market
Author: Patrick Portolano
Prepared for: ACP Energies Association
Date: April 15, 2023
Document: 6 pages
This policy note explores how fossil carbon emissions could be neutralized through direct responsibility for carbon sequestration, without relying on carbon taxes or carbon markets.
Approved in its original French version by the Board of Directors of ACP Energies on March 23, 2023, the proposal argues that fossil fuel producers and the wider fossil carbon supply chain should contribute directly to the geological sequestration of carbon corresponding to their activities.
The paper examines the economic capacity of the hydrocarbon industry to support large-scale carbon sequestration and calls for an international framework capable of addressing fossil carbon at its source.
It advocates a practical approach in which geological carbon sequestration becomes an integral part of fossil energy production and consumption, rather than relying exclusively on downstream emissions pricing.
This publication is part of the early development of the Geological Net Zero concept and the proposal to extend responsibility for fossil carbon throughout producer-consumer chains.
Full paper: Download the original PDF (6 pages).