Swedish energy company Stockholm Exergi boasts in large advertisements that they can “suck” carbon dioxide out of the atmosphere. They will do this in a new plant that will be able to suck 800,000 tons of carbon dioxide out of the atmosphere per year.
The company lives in the mistaken belief that carbon dioxide in the atmosphere is a dangerous threat to the Earth’s climate. In fact, carbon dioxide, along with sunlight and water, is the food of plants through photosynthesis. More carbon dioxide means more vegetation.
But Stockholm Exergi wants to reduce plants’ access to this vital nutrient, at great expense. In the grand scheme of things, however, the 800,000 tons target is only .001 percent of the atmosphere’s CO2 content, which, according to the calculated global carbon cycle, is 880 gigatons (billion tons).
It is not yet clear how much this will cost. But the EU will contribute EUR 180 million, just over SEK 2 billion of European taxpayers’ money. In addition, there will be Swedish government subsidies and income from the sale of carbon certificates, which give the right to add carbon dioxide to the atmosphere.
The way it works is that by absorbing carbon dioxide from the atmosphere, companies can sell the right for others to add an equivalent amount of carbon dioxide. A great double game!