Of course we won't be able to capture and store 37 gigatonnes of carbon annually. That's ludicrous.
The path is straightforward: electrify everything, and make the grid green. There are only three major industries that are difficult to electrify: cement, steel and air travel. Steel & air travel can use hydrogen. For cement, you use low carbon processes to get carbon emissions down to about 10% of previous, and then store the rest. That's just a hundreds of megatonnes, and that is feasible.
Electrifying (almost) everything will cost a lot of money up front, but will save a ton of money in the long run. And renewable energy is a lot cheaper. And will provide a ton of jobs. So consumption is going to go up, not down.