An estimated $80 billion could be spent on new gas plants and retrofits with carbon capture, a massive financial undertaking driven by deep-pocketed tech companies and top executives, according to Axios. This expenditure is heavily reliant on a federal tax credit, set to expire in 2033, which is deemed "key to making projects viable," even as high upfront capital costs persist despite existing subsidies covering some operating expenses.
At least five projects are currently under consideration across the U.S. to capture carbon dioxide emissions from natural gas plants connected to data centers. These projects include Google's publicly touted initiative in Illinois, another Google-backed project reportedly in Nebraska, and ventures by ExxonMobil, Chevron, and Meta, which has the option to integrate the technology. Multiple interviews with top executives in both the energy and AI sectors indicate that this technology is under active discussion.
Elite Interests and Globalist Directives
KR Sridhar, co-founder and CEO of Bloom Energy, stated that big tech companies "will be the leaders in demonstrating carbon capture." Sridhar asserted that this corporate leadership would facilitate the technology's proliferation around the world. He further claimed, "I strongly believe carbon capture use and storage will be the only way we will decarbonize the planet in a big way over the next two decades," aligning corporate interests with a globalist climate agenda.
The AI-driven surge in electricity demand is reportedly boosting nearly every type of energy technology, with natural gas being a primary beneficiary, alongside more novel technologies like fusion and long-term storage. Oil and gas companies have historically led much of the early development in carbon capture, but high costs have previously limited its widespread deployment.
Despite a surge in power demand driven by AI and weakening political support for climate action, big tech companies are largely adhering to their stated climate goals. Alex Dewar, managing director at consulting firm BCG, noted that "Unabated natural gas is being pursued by all the hyperscalers no matter how stringent their climate goals." Dewar added that companies are attempting to reconcile these goals with increasing gas use, concluding, "That's where the solution does come back to carbon capture."
The Financial Burden and Corporate Hypocrisy
Cully Cavness, co-founder and president of data center developer Crusoe, stated, "Ultimately, it's an economics question," regarding the pursuit of carbon capture opportunities. Axios noted that Cavness has made similar comments for the last couple of years without significant public project announcements. Currently, no natural gas plants operating in the U.S. are equipped with carbon capture technology, although progress is being made globally and domestically in capturing carbon from other types of facilities.
Michael Terrell, head of advanced energy at Google, acknowledged that the technology "has a long way to go before it can be commercialized at scale," yet affirmed Google's commitment to "helping get it there." Gas plants paired with carbon capture are considered particularly attractive for data centers, which require reliable, around-the-clock power. A recent analysis by BCG found this option to be the only one that consistently performed well across cost, speed, scalability, and emissions among eight power sources.
Unproven Technology, Assured Subsidies
A separate report from the Great Plains Institute, released last week, identified the Gulf Coast, West Texas, and Oklahoma as prime regions for this kind of buildout. BCG estimates that the capital required for these projects could reach $80 billion. Dewar highlighted that "The biggest hurdle is the scale of the capital required," indicating the immense financial commitment. He also observed a shift towards smaller-scale projects aimed at demonstrating the technology before scaling up, suggesting that the path to large-scale commercialization remains uncertain despite the substantial financial backing and public subsidies.