From your article:Australia is moving towards a domestic carbon...

From your article:

Australia is moving towards a domestic carbon trading scheme, with the Liberal Government committing to a system by 2012 and the Labor opposition promising a scheme by 2010.

Major miners and energy companies, including Rio Tinto Ltd, BP Plc and Chevron Corp have begun positioning themselves in preparation for such a scheme.

Where are you BHP?


From the article below on the BP Rio Tinto carbon geosequestration plan.

http://www.euro2day.gr/articlesfna/36392246/


“a final investment decision on development is unlikely to be made before 2011, with the project coming into operation following a three-year construction period thereafter.

An issue these projects will have to solve is that the compressed carbon dioxide waste will in all likelihood need to be transported from the source of power generation as the geological structures that produce coal -- where coal power stations are typically located -- are generally unsuitable for trapping gases for generations.

But all these project are awaiting the "carbon-pricing" plans currently proposed by state and federal governments given the costs of undertaking geosequestration are higher than those of traditional power generation -- typically around four times.
The scientist Flannery said the reasons for the increased energy usage is that such plants consume around a quarter of the energy produced in operation, while the carbon dioxide compression and injection process itself consumes a further 20 pct of energy produced.”

Is there anyone out there that think carbon geosequestration will work? I don’t. For started you need to expend a large amount of energy to transport/pump it and then the gas needs to stay in the geological structure. It is all a pipe dream and is aimed at maintaining Australia’s multi Billion dollar coal export business.