California lawmakers are proposing tougher rules, especially for oil companies, for counting projects that remove carbon dioxide from the atmosphere toward the state’s emissions reduction goals.
Companies couldn’t use carbon removal projects from oil production when measuring progress toward the state’s carbon dioxide targets under a state Senate (SB 285) measure. Storage to offset long-term emissions from fossil fuels would also face more stringent rules to be eligible.
The legislation is the latest effort by state policymakers to set regulations for carbon credits generated by the nascent industry, which has seen an influx of investment from companies including ...