Advance Commitments for Carbon Capture

CNN's John Sutter talks with Julian Zelizer about a billion dollar philanthropic project providing advance commitments for carbon capture. An advance commitment means that your buyer, maybe the government, may be some other private company, says, if you make such and such a product, then we will pay you this many dollars for your product. The idea is to get around what economists call hold-up: Maybe you make this huge investment, and then it turns out that government says,. i ont to pay you less than we would have agreed to if we had bargained before you made that big investment.