At a time when the world's top climate experts agree that carbon emissions must be rapidly reduced to hold down global warming,Italy's major electricity producer, Enel is converting its huge power plant here from oil to coal.
Over the next five years,Italy will increase its reliance on coal from 14% to 33%.Power generation by Enel from coal will rise to 50%.European countries are scheduled to build 50 coal-fired plants over the next five years,plants that will be in use for the next five decades.
Environmentalists are aghast at the renaissance of coal. Critics say 'CLEAN COAL' is a pipe dream, an oxymoron in terms of carbon emissions that count most toward climate change.
Enel,like many electric companies,says it has 'no choice' but to build coal plants to replace aging infrastructure. Fuel costs have risen 150% since 1996,and Italians pay the highest electricity costs in Europe.Its proponents argue,coal reserves will last 200 years,rather than 50 years for oil and gas.
Without carbon capture and storage,coal 'cannot be green'. But solving the problem will take global coordination and billions of dollars in investment,which no country or company seems inclined to spend.
There is a new coal-fired plant going up in India and China every week,and most of those are not constructed in a way that is amenable to carbon capture,even if it were developed.
For most coal power plants the cost of converting would be 'phenomenal', concluded a report by the US environmental protection agency.
A large leak of underground carbon could be as dangerous as a leak of nuclear fuel...
The above is a world wide problem as you all know,UCG technology isn't going away because of a greedy one eyed company..even anti uranium Geoff Wilson is not 'that dumb'??.
This is the debate that we 'had to have',UCG will play a decisive roll in Australia's energy future,its here to stay.
THIS IS OUR TIME GUYS..EMBRACE IT.
CXY Price at posting:
5.4¢ Sentiment: None Disclosure: Held
