The Cost of Carbon Capture And Storage - Can We Afford It?
Mondaq Business Briefing › United Kingdom Law Articles in English (2007)
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The Cost of Carbon Capture And Storage - Can We Afford It?
By Chris Staples and Louise Storer
"When written in Chinese, the word 'crisis' is composed of two characters - one represents danger, and the other represents opportunity." John Fitzgerald Kennedy (35th US President (1961-63), 1917-1963) The dangerous consequences of unchecked global warming have been paraded across our television screens and newspapers. To talk about the business opportunity that such a crisis may present is to some rather unsavoury. The reality is that commercial opportunities inevitably exist and their exploitation is part of a solution that allows us to retain the lifestyle choices we have become accustomed to. However, it is only once the economic conditions are such that these opportunities can be fully exploited that any significant form of global climate change abatement becomes a reality. In this article we will look at some of the issues facing the widescale deployment of carbon capture and storage ("CCS") technology, believed by many to be one of the most significant opportunities that could be employed to mitigate the crisis. CCS - the technology of the future? Despite the recent hype, CCS1 is not a new invention. Knowledge has been accumulating since the 1970s and a number of relatively small-scale CCS projects, generally a...See the full content of this document
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