Protecting the Globe and the Economy Through Carbon Capture and Storage (CCS)
Jackson Walker L.L.P., US
Keywords: carbon capture, clean coal, geologic sequestration
Abstract:As the Obama administration comes to Washington, it is faced with two pressing priorities: economic stability and global warming. These issues were among the most discussed during the presidential campaign and have dominated recent Congressional debates. Reducing carbon emissions from coal-fired electric power is a key component of reducing global greenhouse gas emissions. With 50 percent of America’s electricity currently being generated by coal and given the escalating use of coal in emerging economic powers such as China and India, it is folly to expect that coal can simply be eliminated from the generation mix without doing significant damage to an already volitile global econony. The only bridge over these troubled waters is clean coal technology, including the capture, use and storage of carbon dioxide from fossil fuel combustion. This presentation will overview a range of CCS technologies currently in development as well as state and federal incentives in place and being developed to expedite the commercialization of these technologies. Current commercialization timelines for gasification, oxyfuel, and post-combustion carbon capture will be discussed. Carbon dioxide transportation, injection, and geologic sequestration will be addressed, as well as enhanced oil recovery projects utilizing anthropogenic carbon dioxide. Among the incentive programs that will be covered are the Department of Energy’s Clean Coal Power Initiative, new carbon capture and storage incentives contained in the economic rescue package, several different state incentive programs, as well as the announced priorities of the new administration.