But at the heart of the debate is whether the city of The Dalles, Wasco County and the Port of The Dalles would support a new technology company taking on a challenge without knowing if the business model would be viable. All three agencies must approve the application for the abatement to be approved.
Commissioner Phil Brady said that while the project could be made financially viable in the future with carbon credits being purchased by the companies that produce it, he feels that is not the case at this time. said. (One carbon credit is equivalent to 1 ton of CO2.)
If the gamble pays off, it could have a measurable effect on reducing atmospheric carbon dioxide and encourage further investment in the county.
A company official said:
“If 280 Earth’s business model proves to be viable, there are specific plans to support continued local expansion elsewhere in Wasco County, or perhaps even in the Columbia Gorge Regional Airport Industrial Park, rather than at the Dulles Port. For example, former industrial sites in Tie Valley and Maupin may be considered. Also, although not in Oregon, a 1 million ton production facility will be located at the (Dullesport) Airport. There will be plenty of space for rail transportation and close proximity to BPA power lines.Finally, as mentioned above, you can develop solar power there. Sequestration produces water as a byproduct. The 1 million ton CO2 capture facility will produce an estimated 480 million gallons of water annually, which can be shared with Klickitat County. “The long-term lease income will support continued improvements to the airport and reduce the city’s current subsidy to the airport,” the 280 Earth report submitted by Spatz said.
Commissioner Brady also pointed out that the issue of climate change has tangible costs for local residents. Local residents said they are feeling the effects of rising fire insurance and medical costs, due in part to rising average temperatures that have caused large wildfires in the region in recent years.
The benefits of cutting greenhouse gases like CO2 to reduce extreme weather events that cost the U.S. economy billions of dollars a year could be worth the gamble.
But for Brady, it’s cash up front to save tomorrow.
“Based on the health benefits, a ton of carbon will accumulate about $190 in future costs,” Brady said, adding, “Because we’re discounting the future, the economy has to deal with future costs.” I’m having a hard time doing that,” he said.
Brady also spoke about the long-term nature of such projects and summarized Earth’s current 280 hurdles.
“Companies working on this face a number of challenges known as the Valley of Death. First they have to develop the concept and raise the money to do it. Their money runs out. Then they have to develop the prototype first. They have to start over. They get the funding for it, but it dries up. So, at each stage, they’re working on demonstration projects before they finally get to commercial development. It’s a long journey. There are a lot of bumps in the road,” Brady said.
Commissioner Steve Cramer added to the discussion by saying he felt it was unlikely that Earth’s 280 investors would withdraw from the project.
Ultimately, Commissioners Scott Hage, Steve Kramer, and Phil Brady reached an agreement to support 280 Earth’s application for tax relief.
