looks like a capper, page-11

-posted by Gooreb on the CNX thread:


DJ Australia's PM Unveils Key Carbon Capture/Storage Legislation

18/09/2008 10:16AM AEST

CANBERRA (Dow Jones)--Australia's Prime Minister Kevin Rudd Thursday introduced key carbon capture and storage legislation into parliament, saying the government has a responsibility to act now on the issue.

The legislation, the Offshore Petroleum Amendment (Greenhouse Gas Storage) Bill 2008 and other related legislation, is about Australia providing leadership and preparing for the future with the world's first comprehensive regulatory framework for carbon capture and storage projects, he said.

The market for low carbon energy technologies is growing rapidly and will be worth hundreds of billions of dollars in the future, Rudd said.

Australia wants to become a hub and leading developer of clean energy technologies and businesses rather than become a follower, importing technologies developed elsewhere, he told Parliament.

"But we will only achieve the critical mass of research, innovation and investment in Australia if we begin to move to a low carbon economy."

"That is why carbon capture and storage technologies alongside the carbon pollution reduction scheme and the government's comprehensive response to climate change is so critical to Australia's future," he said, while arguing against a 'do nothing' approach advocated by some.

Australia is the world's largest exporter of seaborne coal.