In the face of limited carbon budgets, negative emissions technologies (NETs) offer hopes of removing greenhouse gases from the atmosphere. It is difficult to determine whether the prospect of NETs is significantly deterring or delaying timely action to cut emissions. This paper sets out a novel theoretical perspective to this challenge, enabling analysis that accounts for interactions between technologies, society and political and economic power. The paper argues that, seen in this light, the scope of NETs to substitute for mitigation may be easily exaggerated, and thus that the risk of harm from mitigation deterrence should be taken seriously.