People are missing the fact that the oil and gas industry is strongly in favour of CCS for 2 main reasons: 1. It makes extracting and burning oil not so bad - no need to make rules limiting oil extraction, we can simply start some CCS projects. 2. Injecting CO2 into deep oil wells actually helps get more oil out of them. Get the government to pay for CCS, while the oil company profits off increased yields.
CO2 is only useful for enhanced recovery in a few scenarios. It only works in non-water-wet reservoirs, which are fairly rare. You wouldn't use it in other cases even if someone was paying you to. (You'd lose vastly more money in lowered recovery factor compared to optimal methods for the reservoir than you'd get paid. Better to use the correct methods and inject C02 into something you're not producing from.)
Big oil companies are in favor of CCS because they're the ones who can do it most effectively and have invested the most R&D in carbon sequestration strategies.
Like it or not, big oil isn't some evil mustache twirling villain. Yes, Exxon has taken some dicey moves with lobbying, but most of the oil industry has been very aware of climate change for quite awhile now and has been heavily investing in ways of tackling it (or at least they were ten years ago when I worked in oil - I assume that's still the case). They're basically waiting on regulatory changes to make it profitable.
The technical challenge right now is efficient C02 capture. We've largely shown that long-term C02 sequestration should work. However, we still don't have a ton of ways to capture carbon at scale that don't involve significant energy expenditures. The whole system needs to be carbon negative to work, and the methods we currently have don't scale terribly well in that regard. (i.e. Carbon capture is most feasible right now during electricity generation and other industrial processes that produce high concentrations of C02. To have a global impact we need to get it to work at atmospheric concentrations.) That's something that actually is a fairly tractable problem, it just needs large scale focus. To get that in our current system, you need to make it economic to capture and sequester carbon.
We, as a society, are still dependent on hydrocarbons for lots of things. We really still can't easily replace them -- we're structured around cheap fuel with a very high energy density. Electric cars certainly help, but they can only replace some uses. We just don't have the technology to replace a large chunk of our current hydrocarbon uses. It's an energy density problem.
You want to change something, change the regulatory system. Regulate C02 as a pollutant, sure. You have to be careful how you implement that, though, or you'll most heavily impact the most venerable portion of the population with price increases. For that reason, cap and trade is also a good approach. So are many of the carbon market strategies. Yeah, some of those ideas come from the conservative side politically -- it doesn't make them ineffective.
Vilifying oil companies just demonstrates ignorance of both the problem and the solutions. Big oil is part of the solution as well.