[Congressional Record Volume 169, Number 80 (Thursday, May 11, 2023)]
[Senate]
[Pages S1628-S1629]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. COLLINS (for herself, Ms. Cantwell, Mr. Cassidy, Mr. King, 
        and Mr. Coons):
  S. 1576. A bill to provide for advancements in carbon removal 
research, quantification, and commercialization, including by 
harnessing natural processes, and for other purposes; to the Committee 
on Energy and Natural Resources.
  Ms. COLLINS. Madam President, I rise today to introduce the Carbon 
Removal and Emissions Storage Technologies Act, the CREST Act. I want 
to thank Senator Cantwell for her partnership in working on this bill. 
Our bipartisan bill would direct the Department of Energy to research 
and evaluate the feasibility of innovative carbon removal and storage 
pathways. The name the ``CREST Act'' alludes to the fact that we have 
reached the ``crest'' of our emissions, and we must work to reduce 
them.
  With more and more private and public sector commitments to reach 
net-zero emissions within certain timeframes, companies are scrambling 
to invest in quantifiable, durable, and verifiable carbon removal 
solutions. Microsoft, for example, has made a commitment to be carbon 
negative by 2030. Even though Microsoft plans to reduce its greenhouse 
gas emissions by more than half, it will need to remove the rest of its 
carbon emissions. In order to do this, Microsoft plans to invest $1 
billion in carbon removal technologies, such as direct air capture, 
forestation, and carbon mineralization.
  Despite the growing number of companies that are looking to offset 
their emissions, current cost estimates show that private sector 
investment alone will not be sufficient to research and deploy carbon 
removal pathways. I supported the Energy Act of 2020, which authorized 
the first comprehensive Federal carbon removal research and development 
program, and the bipartisan infrastructure bill, which invested $3.6 
billion in direct air capture. Although these investments have been 
significant, more work is needed in further research, increased 
testing, and enhanced public-private partnerships to help aid in 
scaling carbon removal technologies.
  The CREST Act would expand the Department of Energy's carbon removal 
research and development programs to include carbon removal pathways 
that can permanently sequester carbon dioxide or use carbon dioxide to 
produce biofuels or products. The key areas of focus for research and 
development in our legislation are biomass carbon removal and storage, 
geological removal, atmospheric and aquatic removal, carbon dioxide 
storage, and carbon dioxide removal quantification.
  Our legislation also aims to accelerate the commercialization of 
innovative carbon solutions through a pilot program at the Department 
of Energy. This pilot program would be charged with accelerating the 
deployment of affordable and proven carbon removal technologies. This 
reverse-auction style pilot program would position the government to 
purchase innovative and promising technologies, subject to certain 
criteria, and reduce the costs of those technologies. This would allow 
companies that may not have as much purchasing power as Microsoft to 
participate in carbon removal to help offset emissions.
  This pilot program could also support companies that are leading the 
way in carbon removal technology, like Running Tide in Maine, in 
bringing down the cost of its product. Running Tide captures carbon 
dioxide using kelp microforests, sun, ocean currents, and gravity. This 
new and exciting company grows floating kelp microforests attached to 
biodegradable buoys that sink as they break down. The carbon captured 
through the floating microforest is effectively removed for hundreds of 
years once it hits the ocean floor. Running Tide hopes to soon be 
selling ``kelp carbon credits'' to help offset private entities' 
emissions. They are currently working to commercialize quickly. These 
innovative approaches are the kinds that our new pilot program could 
encourage.
  Climate change is a significant environmental challenge that requires 
innovative and global solutions to reduce greenhouse gas pollution. 
While carbon removal is only a small part of the solution, it is 
critical that we promote innovation in this area. Our bipartisan bill 
has earned endorsements from Bipartisan Policy Center Action,

[[Page S1629]]

ClearPath Action, Citizens for Responsible Energy Solutions, and many 
others. I urge my colleagues to join Senator Cantwell and me in 
supporting this legislation.
                                 ______