No, it doesn't say why. And it also doesn't actually say Biden spent that money. It says Congress "allocated" $7.5 billion. There are plenty of processes between allocation and actual expenditure that could be holding this up.
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Agreed. Carbon capture is absolutely an important tech that we should deploy after the cheaper, better solutions of removing carbon from our economies. Carbon capture should be the final phase where we help the Earth heal the damage we've done after we stop doing the damage. We need to first implement those stop-doing-the-damage phases.