It depends on how much pulling the carbon out ends up costing per ton. Probably not cheap.
On the other hand, the prospects of keeping the carbon in the ground by laws and regulations are dimming. People seem to flip out over even minor increases in gas taxes. Unless other sources of energy make fossil fuels obsolete, there is too much money there, money that is already on the books.
Kevin Drum along these lines
Like most of you I want to keep fighting to reduce fossil fuel use, but at the same time I’ve come to recognize the reality that it’s not going to happen. Not via carbon taxes or lots of hectoring, anyway. As Chris Hayes has pointed out, there’s about $20 trillion worth of fossil fuels still left in the ground right now. Knowing what you know about human nature, what are the odds that anyone is going to leave all that money there? About zero, right? Hayes compares it to the $10 trillion economic value of slaves in the South on the eve of the Civil War, and points out that this is why the South would never, ever voluntarily give up chattel slavery.
Bottom line: there is no feasible way to keep all that carbon in the ground merely through regulation or fuel taxes or whatnot. It might help a bit, which means we should keep trying, but in the end it won’t work except on the margins. I don’t like this conclusion any better than anyone else, but I think it’s correct.
Against that background, news that removing carbon might be doable seems like a good thing. It will be easier to have the will for carbon removal when disaster is right in everyone’s faces, as opposed to having the will not to burn the carbon now, when people still are able to live in denial.
Obviously the whole situation is terrible though, and doesn’t say good things about us as a species.
Drum proposes spending giant sums supporting new clean energy and carbon capture development because “The public hates higher taxes and stricter regulations, but they love spending money.”