February 2nd, 2009
Is 2009 the year of carbon sequestration?
Emerging Energy Resrearch’s new report says the carbon sequestration tech will get serous attention this year and may be at significant scale by 2016. The petrochemical industry is very interested in carobn sequestration as a way of making their products and processes produce less green house gas. EER says the current financial crisis will slow down apoplication and expansion of carb on sequestration for now.
Burning coal is a huge contributor of CO2 to the earth’s atmopshere and thus to global warming. EER says the coal industry is eager for carbon sequestration yto work, if it can work on a large scale.
“If coal is to maintain its share in the global power generation mix over the next two decades, its
carbon emissions must be mitigated through the capture of CO2. However, carbon capture relies on commercially-viable solutions to store or sequester CO2 permanently. While sequestration solutions have been demonstrated on a trial basis, carbon sequestration’s commercial viability on a broad scale is still uncertain.”
As EER explains 2009 marks the start of a critical nexus for carbon sequestration tech, “More than US$20 billion has already been earmarked for spending on large demonstration CCS projects, with economic stimulus plans in Europe, the US, and Canada expected to increase this figure in 2009.”
EER counts nearly 120 carbon sequestration projects underway in a score of countries already. The primary focus is now on geologic storage of CO2, putting it underground where salt, water, natural gas, coal or oil once was…and then keeping it there.
A newsman since 1969, Harry Fuller has worked for CBS, ABC, CNBC Europe, CNET and was founding news director at TechTV. See his full profile and disclosure of his industry affiliations.
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