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AUSTRALIA has joined the list of nations that view carbon capture and storage as the silver bullet for rising global emissions. Australia is lobbying hard to secure at least two of the 20 large-scale commercial carbon capture and storage demonstration projects the Group of Eight leading nations want operating globally by 2020.
The new drive for CCS development in Australia, the world’s biggest emitter of greenhouse gases per head of population, comes despite the costs involved and the time needed to perfect the technology.
Tackling climate change has been a key policy aim of Kevin Rudd since he won office on November 24 last year.
One of the Prime Ministers first acts was to add Australia to the signatories of the Kyoto Protocol, isolating the US as the only major developed economy not bound by mandatory caps on reducing emissions.
But the Rudd administrations enthusiasm for using policy more widely to combat global warming has angered many in Australia’s powerful resources sector, who say it will drive up costs at a time when the country is feeling the pinch from slowing global demand for commodities.
Energy Minister Martin Ferguson says carbon capture and storage – or CCS, the process of trapping greenhouse gases and injecting them into underground reservoirs, where they cannot leak out – is Australia’s
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