There's no need to put the calcium carbonate back in the ocean. Calcium carbonate is limestone. The White Cliffs of Dover are limestone, and they've been there for millions of years.
Keeping the fuel underground would have been nice. Now the CO2 level is already too high. As you pointed out above, we have to stop emissions and pull CO2 back out of the atmosphere.
And it should be able to address more than this (https://elements.visualcapitalist.com/the-scale-of-fossil-fu...) amount of carbon yearly (and that is not the volume of the calcium carbonate, but the source carbon, it could be far bigger).
Keeping the fuel underground is the best capture technology. It will keep being safely there unless a suicidal species dig around for retrieving and burning it.