Starting 2018, the U.S. government offers a national carbon tax credit of $50 to the industrial sector for every metric ton (MT) of CO2 that is captured and sequestered underground. The previous tax credit was $20/MT of CO2 and completely ineffective in spurring carbon capture and sequestration (CCS) projects in the U.S.; there are currently only nine carbon capture facilities in the country, and only one project, Archer Daniels Midland's Illinois Industrial CCS, stores its captured CO2 underground. The other projects utilize the captured CO2 in enhanced oil recovery (EOR) applications.
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