Saturday, June 20, 2009

CO2 Sequestration - Liability and States

As you research CO2 sequestration projects and the liability issues you often see articles that mention the state should take ownership after a certain time has passed. I wondered WHY a state would ever consider that option. Liability follows ownership...

Read both articles - VERY ENLIGHTENING.

This second link is to a PowerPoint Presentation by Ian Duncan, Bureau of Economic Geology University of Texas at Austin, to me, it tells the real story of CO2 sequestration -( see link below)

Check it out - not one word about how it cleans up the atmosphere, protecting us from the dangers of CO2 as a Green House Gas - No, it tells the real tale - how to get it done, even if it means doing a EOR project for public acceptance - to put dollars in deep pockets! (and at the time putting a false sense of security in the minds of their constituents with the sovereign immunity issue!

"CO2 EOR Is not “The Answer”…but CO2 EOR is a great beginning
• Economic or near economic in current market, depending on cost of CO2
• Acceptable to public
• Other major benefits (domestic energy production, taxes, employment)
• Build infrastructure that can be used long term for large volume CO2 disposal =
stacked storage

Could CO2 Sequestration Storage Volume in the Gulf Coast be valuable in the future?
~ 222 Billion Tons of CO2 at $30 to $80 a ton (based on economists projects)
…. You do the math!"

I couldn't help but hear the words of Paul Harvey in my ear as I read it, "and now you know the rest of the story".
And they wonder WHY communities object to this experimental technology?