It is not just economics and technology but stakeholder interests which have shaped the evolution of carbon capture and storage (CCS) technology as an option with a portfolio of low-carbon technologies. We trace how over the course of the 2000s, CCS went from largely unknown to being seen as a flexible, dispatchable technology applicable to coal, gas or biomass, which could address concerns over security of supply with minimal disruption to the existing power system and business models while addressing hard-to-abate sectors including heat and process industries. Four general themes are identified as explaining why the politics of CCS has been so difficult: (i) there is no pressure for politicians or other stakeholders to seek more efficient solutions; (ii) the lack of a coherent logic or overarching industrial policy narrative for supporting CCS, except perhaps in a few isolated locations; (iii) the nature of CCS requires a much larger initial investment and greater systems integration than other low-carbon options; and (iv) changing energy industry business models, which, over the past decade, had eroded some of the factors that had worked in favour of CCS.