Though United Nations Clean Development Mechanism is meant for the good of present and future generations, a to-be-approved CDM project may very well be totally against that goal. Virginia-based Allied Energy Systems (AES) Corporation is looking forward to construct a hydroelectric dam in Panama that activists fear may harm the habitat at a World Heritage site of significance. In addition to that, it may also force a local tribe Ngobe to relocate to another place.
AES has asked for certification of the credits that can be achieved through this project although contemporary scientists believe tropical dams can result in generation of methane, which in itself is several times more harmful than the infamous CO2.
A large number of mammals and other species reside in the La Amistad Reserve that is threatened by this new CDM project; also present in the reserve are around 180 plant and 40 bird species that are non-existent in the rest of the world.
At first glimpse to this news, it seems as if the matter hasn’t come into the notice of non-profit bodies; but just a year back, around 50 environmental organizations dispatched a letter to AES pressurizing it to move back. However, all efforts seem to have gone in vain.
Posted on September 1, 2008
· in Carbon Market News
While Canadians debate carbon tax and Aussies fight over the emissions scheme, the US Dept of Energy is taking a shot at the controversial carbon sequestration plan. The Southeast Regional Carbon Sequestration Partnership (SECARB), which is a part of the DOE, has set up sophisticated underground apparatus to monitor CO2 injected for an oil recovery program.
Apart from being a step towards large-scale sequestration projects, the current study will also assist in evaluating the type of apparatus required to ensure secure storage of carbon dioxide. Approximately 250K-500K metric tons of carbon dioxide will be pumped around 10,000 feet into the ground every year for this sequestration research.
Although CO2 injection isn’t that new an approach for Enhanced Oil Recovery, what needs to be tested largely is the safety of the whole process, especially the safety of underground water resources from being contaminated by the injected gases.
Posted on August 28, 2008
· in Carbon Market News
The US DOE today released the last Funding Opportunity Announcement for Round Three of a major carbon capture and sequestration project. The Clean Coal Power Initiative (CCPI) is an effort to promote commercialization of technologies, which will enable clean acquisition of coal-fired energy. The DOE may disburse as much as $430 million to selected participants, where the recipients will have to provide at least 50% of the amount themselves. The objective of the project is to demonstrate commercial viability of sequestering or beneficially utilizing CO2 emissions generated by cola-fired plants.
“The Department of Energy is committed to increasing the Nation’s energy security and addressing global climate change by developing the technologies that will ensure coal can be used to meet our growing energy demand in an environmentally responsible way,” stated Jim Slutz, Acting Assistant Secretary for Fossil Energy.
The last date for submitting applications is January 15, 2009, whereas the selected recipients are expected to be announced in July 2009.
Posted on August 11, 2008
· in Carbon Market News
